Twitter launched the Tip Jar function on Thursday to facilitate users to tip their favorite creators.
“We want to develop new ways for people to get and show support on Twitter. This is our first step.” The company said in a blog.
Users can use Tip Jar to connect their Twitter account with Bandcamp, Cash App, Patreon, PayPal or Venmo. Twitter will not charge for this feature .
Users who use the English version of Twitter on iOS and Android systems will be able to send money through Tip Jar starting this Thursday. Some users can also add Tip Jar to their profile page to receive tips, including creators, journalists, experts, non-profit organizations, etc.
This feature is also part of Twitter’s overall development plan: the company hopes to achieve 315 million daily active users by the end of 2023 by launching various features. The company also announced the Spaces feature earlier this week, allowing users to join virtual rooms to start real-time voice conversations with others.
The launch of Tip Jar coincides with Twitter’s short-term dilemma: The company’s stock price has fallen by more than 17% since the announcement of its first-quarter results on April 29. Twitter’s user growth in the quarter did not meet analyst expectations, and the guidance forecast for revenue for the second fiscal quarter was also lower than market expectations.
Twitter’s stock price rose by US$0.25 in regular trading on the New York Stock Exchange on Thursday to close at US$53.81, an increase of 0.47% from the previous trading day. The stock edged up 0.17% in subsequent after-hours trading to $53.90. Twitter’s stock price in the past 52 weeks was as high as $80.75 and the lowest was $27.12.