Instapaper goes free and launches premium subscription
On the free option, Instapaper users will get standard options like saving unlimited amounts of content, syncing articles across platforms, create folders for organization, 5 highlights per month, sharing from many apps, and "world-class support". The paid option is obviously targeted at more power users, and it gets you more advanced features like text search, unlimited highlighting, text-to-speech playlists on mobile, API integration, the "send to Kindle" option, an ad-free experience.
That's a pretty solid selection of features on the premium side, and the price is fairly aggressive compared to the competition. The most direct comparison is Pocket, which would cost you $4.99 per month or $44.99 per year, but Instapaper premium will cost you $2.99 per month or $29.99 per year.