Twitter Inc has acquired Scroll, an ad-free newsreader product, and is likely to pull the service into a new subscription offering.
In a blog post on Tuesday, Twitter said that Scroll has temporarily halted new subscribers while its 13-person team joins the social media company. However, the deal terms haven't been disclosed.
Scroll has offices in New York City and Portland, is backed by investors including Union Square Ventures.
The newsreader startup was first announced in late 2016 and raised money from several publishers, including Axel Springer SE, News Corp., and the New York Times.
Presently Scroll is working with some publishers, including BuzzFeed News, the Atlantic and USA Today. It offers their stories to paying customers. Those stories don't have advertisements, and the company shares some of the revenue from its subscriptions with the publishers.
In the past six months, Scroll is the Twitter's sixth deal. Revue, a newsletter startup, with plans to make money from subscriptions has also been acquired by the company.
Scroll Chief Executive Officer Tony Haile wrote in a blog post, "For every other platform, journalism is dispensable. If journalism were to disappear tomorrow their business would carry on much as before. Twitter is the only large platform whose success is deeply intertwined with a sustainable journalism ecosystem."