Twitter shares spiked higher Wednesday on several reports that the company is considering launching a subscription service.
The company posted a job listing for a “senior full-stack software engineer” to work on a platform code-named Gryphon. “We are building a subscription platform, one that can be reused by other teams in the future,” reads the listing, which was first picked up by The Verge. Bloomberg also reported that the company is considering a subscription service, citing an unnamed source “familiar with the company’s plans.”
“This is a first for Twitter!” the post reads. “Gryphon is a team of web engineers who are closely collaborating with the Payments team and the Twitter.com team. We are looking for a full-stack engineer to lead the Payment and Subscription client work, someone who values collaboration as much as we do and can act as a bridge for the engineering team. It’s a great opportunity for all teams involved!”
Rosenblatt Securities analyst Mark Zgutowicz writes in a research note that “it is highly unlikely the company would be considering paid subscription tiers for Twitter usage,” but that instead it might involve data and analytics that for power users “a TweetDeck on steroids.” But he notes that he has no hard data and is simply speculating.