Elon Musk puts $20 billion value on Twitter, The Information reports.
According to a report from The Information, Elon Musk, CEO of Twitter, has offered stock grants to Twitter’s employees at a valuation of nearly $20 billion. The Information cited an email sent by Musk to Twitter staff, which stated the offer. The reported valuation is significantly lower than the $44 billion that Musk paid to acquire the social media platform, suggesting that there has been a decline in Twitter’s value. Twitter has not yet responded to requests for comment from Reuters regarding the matter. In December, Musk stated that Twitter was expected to reach “roughly cash flow break-even” by 2023, as top advertisers had reduced their spending on the social media platform following Musk’s acquisition.
This news is significant for both Twitter and its employees, as stock grants can be a valuable benefit for workers. However, the lower valuation may also raise concerns about the future of the company and its ability to compete in the social media marketplace. It remains to be seen how this news will impact Twitter’s operations and strategic direction in the coming months. Musk didn’t respond to the comments but said that Twitter Verified is now available wherever Twitter has a presence globally. This seems like a way for him to say that there will be no exceptions for those who do not want to pay for the checkmark. “Twitter Verified now available worldwide!” the tech mogul said. Musk didn’t respond to the comments but said that Twitter Verified is now available wherever Twitter has a presence globally. This seems like a way for him to say that there will be no exceptions for those who do not want to pay for the checkmark.
“Twitter Verified now available worldwide!” the tech mogul said. Musk didn’t respond to the comments but said that Twitter Verified is now available wherever Twitter has a presence globally. This seems like a way for him to say that there will be no exceptions for those who do not want to pay for the checkmark.”Twitter Verified now available worldwide!” the tech mogul said.Musk didn’t respond to the comments but said that Twitter Verified is now available wherever Twitter has a presence globally. This seems like a way for him to say that there will be no exceptions for those who do not want to pay for the checkmark. “Twitter Verified now available worldwide!” the tech mogul said.
“Office Is Not Optional”: Elon Musk Emails Twitter Employees At 2:30 AM.
Elon Musk, CEO of Twitter, sent an email to the company’s employees regarding the microblogging site’s remote-working policy. The email, which was sent at 2:30 am, stated that “office is not optional.” Musk reportedly noted that Twitter’s San Francisco offices were half empty the day before. It is worth noting that Musk has fired thousands of employees since taking control of the platform. This is not the first time that Musk has communicated new corporate policies through late-night emails. He previously encouraged Twitter employees to put in long hours in a 2 am email shortly after the acquisition.
He also mandated that Twitter workers work a minimum of 40 hours per week in November, stating that it was important for the company’s culture.It is worth noting that Twitter had already implemented a flexible remote work arrangement prior to Musk’s acquisition. However, Musk has previously expressed his dislike for remote working. He announced last year that all Tesla employees were required to spend a minimum of 40 hours in the office per week, which drew criticism from worker advocates due to potential exposure to Covid-19. This latest email from Musk regarding Twitter’s remote-working policy highlights the ongoing debate about the future of work in a post-pandemic world. While some companies have embraced remote work, others, like Musk and Twitter, are emphasizing the importance of in-person collaboration and workplace culture.
Elon Musk Breaks Big News About Twitter
Since taking over Twitter in October 2021 for $44 billion, Elon Musk has implemented major changes on the platform, including the removal of safeguards against misinformation, racism, antisemitism, and hateful content. This has transformed the platform into a bastion for conservatives who use it as a battleground for the culture war.As a consequence of these changes, many advertisers have paused promoting their products on the platform, leading Musk to make big changes to Blue, Twitter’s subscription service. He integrated the blue badge for verifying the identity of the person or entity behind an account and raised the price to $7.99 per month for computer and laptop users and $11 for Apple users who buy their subscriptions directly from the app on their iPhones.
The price for businesses and organizations is $1,000 per month.Before Musk’s arrival, the blue badge was free and was awarded to influential politicians, businesses, journalists, and personalities. The billionaire had indicated that he would grant a grace period to the legacy blue badges but warned that they should expect to lose it if they did not subscribe. The grace period has now ended, and Twitter 2.0 announced on March 23 that all legacy checkmarks will disappear from April 1.Twitter 2.0 has just implemented three forms of checkmarks, with individuals keeping the blue badge, companies and organizations having a golden checkmark, and politicians and institutions having a gray checkmark. Musk stated that any individual person’s Twitter account affiliated with a verified organization is automatically verified.
The advantage of checkmarks is that it signals to platform users that the information posted by the account comes from the individual or organization claiming to be behind the account, guaranteeing the reliability of an account’s tweets. The end of legacy blue badges has divided Twitter users, with some questioning how small businesses can afford $1,000 a month for a checkmark. However, Musk did not respond to these comments and said that Twitter Verified is now available wherever Twitter has a presence globally, indicating that there will be no exceptions for those who do not want to pay for the checkmark. Musk’s revamp of Twitter has stirred controversy, with many criticizing his laissez-faire approach to hate speech and the impact it has had on the platform’s ad revenue. However, Musk remains committed to his vision of Twitter as an accelerator toward development of a super app offering different services, and it remains to be seen how his changes will affect the platform’s future.
