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Elon Musk puts US$20 bil value on Twitter — the Information

Tan KW
Publish date: Sun, 26 Mar 2023, 04:14 PM
Tan KW
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Twitter Inc CEO Elon Musk has offered the social media company's employees stock grants at a valuation of nearly US$20 billion, the Information reported on Saturday, citing a person familiar with an email Musk sent to Twitter staff.

The reported valuation is less than half of the US$44 billion that Musk paid to acquire the social media platform, pointing to a drop in Twitter's value.

Twitter did not immediately respond to a Reuters' emailed request for a comment.

Musk said in December that Twitter is on track to be "roughly cashflow break-even" in 2023, as top advertisers slashed their spending on the social media platform after the billionaire's takeover.


  - Reuters


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