Twitter Acquires News Site Ad Blocker Service Scroll For Undisclosed Sum

Twitter Inc TWTR acquired a $5-a-month subscription service, Scroll, that removes ads from participating news sites. The financial terms of the transaction were not disclosed.
The Scroll service uses third-party cookies or browser extensions to prevent websites from serving ads.
Scroll will not entertain any new signups.
Twitter is planning a new subscription plan to include Scroll, the recently acquired Revue newsletter service, and other homegrown Twitter services. Revue lets users create and sell their newsletters for a 5% revenue share generated from the subscriptions.
Twitter plans to extend the core elements of Scroll service Nuzzel directly to Twitter. Nuzzel was winding down at present.
The Verge also interprets the move as a possible competition with Apple Inc’s AAPL Apple News.
All 13 of Scroll’s employees, including CEO Tony Haile, will join Twitter, as per the Vox report.
Twitter held $4.2 billion in cash and equivalents as of Mar. 31, 2021.
Price action: TWTR shares traded lower by 1.65% at $53.68 on the last check Tuesday.