Twitter shares jump off job listing suggesting subscription platform planned

Shares of Twitter climbed Wednesday following a job listing that hints at a potential subscription plan for the social media company.

The listing for a senior full-stack software engineer details a new team, codenamed "Gryphon," which is working on "a subscription platform, one that can be reused by other teams in the future."

According to the listing, the Gryphon team will work closely with Twitter's Payments group and the Twitter.com team.

Shares of Twitter surged nearly 8% in midday trading to above $35.

A subscription platform on Twitter could provide another outlet for revenue for the social media company, which still trails larger services such as Facebook and Instagram in users, but has become a key platform for high-profile athletes, celebrities and lawmakers including President Donald Trump.

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Follow Brett Molina on Twitter: @brettmolina23.