By Dhirendra Tripathi
Investing – Twitter (NYSE:TWTR) shares rose more than 1% Thursday after a report by TechCrunch that the company has introduced a paid premium subscription service, Twitter Blue, in Canada and Australia.
The monthly subscription will cost C$3 ($2.49) and A$4.49 ($3.45), respectively.
The subscription will allow Twitter users to access premium features, including tools to organize bookmarks, read threads in a clutter-free format and take advantage of an undo tweet feature — which is the closest thing Twitter will have to the long-requested edit button, TechCrunch said.
The company behind the micro blogging site said the initial launch of Twitter Blue will help it determine whether its existing feature set will meet the needs of those who are looking for more customization over their Twitter experience, as well as to encourage discussion around other features that the social media platform should prioritize for future iterations of the premium service.
Tech blogger Jane Manchun Wong was the first to write last month about the company’s plans to launch a paid subscription service.