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Twitter's Valuation Plummets by 57% in One Year, Now Worth $19 Billion

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Source: Variety
Twitter's Valuation Plummets by 57% in One Year, Now Worth $19 Billion
Photo: Variety
TL;DR

Elon Musk's purchase of Twitter for $44 billion has been revealed to be overpriced, as the social network, now known as X, informed employees that their stock grants would be valued at $19 billion. Since Musk's acquisition, X has seen a decline in monthly active users by 15% and a drop in advertising revenue by 60%. Despite these challenges, Musk remains optimistic about X's future and aims to transform it into an all-encompassing app. Musk has implemented changes such as reducing headcount, altering the verification system, and testing a fee for posting to combat bots.

Topics:businessbusinesstech#businesstech#elon-musk#stock-grants#twitter#valuation#x
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  1. X Is Now Worth $19 Billion, Down 57% From $44 Billion When Elon Musk Bought Twitter  Variety
  2. X Says It Is Worth $19 Billion, Down From $44 Billion Last Year  The New York Times
  3. One year after being bought for $44 billion, X is worth $19 billion  Ars Technica
  4. Why did Twitter (X)’s valuation tank 56% in one year?  TechCrunch
  5. An X axis problem | Mint  Mint

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