Twitter is working on a paid project to increase its earnings. According to reports, the company has codenamed its paid platform Gryphon. On Wednesday the company did a job listing for the project. The company’s stock then rose 8%.
According to the report, Gryphon will be a paid or subscription-based platform. Users will have to pay to read exclusive information in it. The company on Wednesday announced the recruitment of a job for the position of Senior Software Engineer in New York. A new team will be ready for Gryphon. According to a Twitter spokesperson, this is just a job posting, not a product announcement.
Currently, Twitter offers a free service
Like other social media services, Twitter currently offers a free service. The company is currently relying on advertising for revenue. Now the company will also generate its own revenue from paid subscriptions.
Twitter has worked on paid offers before
This is not the first time Twitter has worked on a paid offer, according to American tech media site The Verge. In 2017, the company also asked users for a survey on how to see the premium offerings of the Tweetdeck app in the preview. This preview included news alerts and analytics data.
A Twitter spokesperson at the time said the company was conducting a survey to find out people’s interest in a new and advanced version. The company is conducting a survey to know the experience of the users and to make changes in the products. The company is looking to make TweetDech professionals more valuable.