2023-07-16 07:26:00
New transparency operation for Elon Musk. The boss of the blue bird said on Saturday that Twitter, which he bought for 44 billion dollars in October 2022, had lost approximately half of its revenue. An unfiltered financial announcement which the leader is accustomed to, as his positions unite as much as they divide.
“We are still in a negative cash flow situation, due to an approximately 50% drop in revenues and the heavy debt load”, replied the billionaire on Twitter to a user who made strategic suggestions regarding the blue bird network.
In 2022, the company had seen its turnover melt by 70%. The decline has therefore slowed slightly for the moment, but without reversing the trend. The San Francisco company, which derives most of its revenue from , is set to earn less than $3 billion in 2023 according to Insider Intelligence, compared to $4.14 billion in 2022, or 28% less.
Will the network still have to take cost-saving measures, after laying off more than half of the workforce at the time of the takeover?
“We have to get to positive cash flow before we have the luxury of doing anything else”added Elon Musk, without further details.
Since then, the billionaire has made other announcements that have displeased Internet users, such as in early July his intention to restrict the reading of tweets to 10,000 per day for verified accounts, therefore paying, to 1,000 for others and even to 500 for new ones. 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.
Twitter also intends to accelerate on the monetization of media content, with the recruitment of a new general manager, Linda Yaccarino, specialist in television formats.
Linda Yaccarino, a media content monetization specialist at the head of Twitter
Elon Musk accuse Meta
The changes come as Threads, an app launched by Facebook parent company Meta to compete with Twitter, passed the 100 million user mark just five days after its July 5 launch.
This is the first major threat to the weakened Twitter platform since its takeover by the billionaire.
The number of Threads users is still far from that of Twitter, which has between 200 and 350 million users, according to estimates. But Meta’s app can rely on synergies with popular image-sharing app Instagram, which has some 2 billion active users.
Threads’ layout looks exactly like its bluebird rival, right down to the blue mark for verified accounts. Unlike Twitter, where the only criterion for the attribution of a brand is now to subscribe to a paid subscription, Threads verifies that the account is indeed that of the person whose name is displayed.
Elon Musk counterattacked, sending through the lawyer for Twitter’s parent company, X Corp, a letter accusing Meta of breaching trade secrets and intellectual property rights.
Facebook’s parent company, headed by Marc Zuckerberg, is notably accused of having recruited “dozens” of former Twitter employees, according to the document published by the Semafor news site.
Meta has denied the billionaire’s accusations.
(With AFP)
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