Twitter on Tuesday said it has acquired Revue, a newsletter platform for writers and publishers.
Why it matters: The deal marks Twitter’s first step into building out long-form content experiences on Twitter and its first foray into subscription revenue.
Details: While deal terms weren’t disclosed, Twitter presumably didn’t break the bank to acquire Revue. The five-year-old Dutch company has 6 employees and has raised only around $318,000, according to Crunchbase.
- Twitter will be acquiring the team and plans to expand it once onboard.
- Revue offers free and paid newsletter options. The free version lets writers send newsletters to up to 50 people. The paid version lets them email up to 40,000 people.
- Revue takes a 6% cut of paid newsletter revenues as a part of its transaction fee. Twitter says it will be lowering that cut to 5%.