2023-07-16 06:28:02
The bad patch continues for Twitter. Elon Musk said on Saturday that the social network, which he bought for $ 44 billion in October 2022, had lost approximately half of its revenue.
“We are still in a negative cash flow situation, due to a drop of regarding 50% in revenues and the heavy debt load,” the billionaire replied on Twitter to a user who made strategic suggestions. concerning the blue bird network.
We’re still negative cash flow, due to ~50% drop in revenue plus heavy debt load. Need to reach positive cash flow before we have the luxury of anything else.
— Elon Musk (@elonmusk) July 15, 2023
“We have to get to positive cash flow before we have the luxury of doing anything else,” he added, without further elaboration.
Internet users’ anger
The developments undertaken by Elon Musk since his takeover of Twitter have upset network users and advertisers.
In May, Insider Intelligence claimed that Twitter was on course to earn less than $3 billion in 2023, almost a third less than in 2022.
Since then, the billionaire has made other announcements that have displeased Internet users, such as his intention at the beginning of July to restrict the reading of tweets to 10,000 per day for verified accounts, which are therefore paying, to 1,000 for others and even to 500 for new accounts.
A few days later, new announcement: the TweetDeck application, widely used by information professionals, will be reserved in the following month for certified accounts, therefore paying.
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