Exclusive Content:

The No-Compromise Gaming PC Build under ₹30,000 in 2023

In search of a powerful yet efficient and budget-friendly...

Elon Musk states that the total value of Twitter is $20 billion

Elon Musk, the CEO of Twitter, has reportedly offered stock grants to the company’s staff at a valuation of close to $20 billion, The Information reported on Saturday. The valuation is only half of what he spent to acquire Twitter. Musk spent $44 billion to purchase the microblogging platform in October of last year.

The value of Twitter has decreased significantly since the acquisition, according to the report, but it is still significantly higher than Twitter’s competitors’ public market valuation levels. Due to major advertisers cutting back on their spending on the social media platform following his takeover, Elon Musk claimed in December of last year that Twitter was on track to be “roughly cash flow break-even” in 2023.

The $20 billion valuation implies a multiple of 11 times this year’s revenue, translating to an implied enterprise value of $33 billion, according to the report.

Elon Musk
credit: reuters

Elon Musk has predicted that Twitter will earn less than $3 billion in revenue this year.

Following his takeover of Twitter, Elon Musk claimed his business was losing $4 million every day. The billionaire took action to reduce staff size and fired nearly 70% of employees in order to reduce costs. “Regarding Twitter’s reduction in force, unfortunately, there is no choice when the company is losing over $4M/day,” he wrote then.

A research company stated in January of this year that Twitter advertising spending had decreased by 71% from the month before, December. Top advertisers cut back on their spending on the social media platform after Musk took control. The amount spent on Twitter advertisements fell by 55% in November compared to the same month the year before. According to another report, Twitter’s revenue was down 40% from the previous year.

Advertising continues to be Twitter’s main source of income, and following Musk’s takeover, the social media company saw a mass exodus of the top brands. Elon Musk was able to entice some advertisers back, though, by providing steep discounts. To support the revenue, he has also implemented subscription-based verification.

Also Read:



Revitalizing Virtual Characters: NVIDIA ACE for Games Unleashes the Power of Generative AI

NVIDIA has announced the introduction of NVIDIA Avatar Cloud...

Glamorous Taylor Swift Age, Height, Bio, Career, Income, and Family in 2023

Taylor Swift Age, Height, Weight, Career, Income, Relationships, and...

BATTLEGROUNDS MOBILE INDIA is back with a major 2.5 update

KRAFTON, Inc., the renowned South Korean video game developer,...

Acer Aspire 5 with 13th Gen Intel chips formally launched days after being on sale

The Taiwanese giant is known for its value-for-money laptops...

Don't miss

The Sleep Company [CPS] IN


Nivedita Bangari
Nivedita Bangari
I am a software engineer by profession and technology is my love, learning and playing with new technologies is my passion.

NVIDIA becomes the only second company in history to increase its market cap by $200 billion

NVIDIA appears to have fully adapted itself as the face of the ongoing AI revolution based on the company's blazing-hot stock price growth. For...

Sunil Mittal said India will become a $5 trillion economy by 2027

By 2027, India will have a GDP of $5 trillion, according to Sunil Mittal, founder and chairman of Bharti Enterprises. Speaking at a conference...

ASRock unveils its new DeskMeet and DeskSlim Mini PC’s powered by AMD’s Ryzen 7000 CPUs

The latest DeskMeet and DeskSlim Mini PCs from ASRock, which use AMD's Ryzen 7000 Desktop CPUs, will be on display. Future models of ASRock's...


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.