Tesla chief wanted details of the number of spam accounts on the social media platform
Tech1 week ago
American billionaire Elon Musk, the founder of electric car-making company Tesla and spacecraft manufacturing company SpaceX, intends to quintuple Twitter’s annual revenue to $26.4 billion by 2028, media reported on Saturday.
The New York Times cited Musk’s pitch deck presented to investors as saying that he would quintuple Twitter’s revenue to $26.4 billion by 2028, up from $5 billion in 2021.
Musk also intends to cut Twitter’s reliance on advertising to 45 per cent of total revenue, saying that in 2028 advertising would generate $12 billion in revenue and subscriptions some $10 billion. Other revenue would be generated from different businesses, such as data licensing, tipping, and shopping, according to the document.
The billionaire also expects to increase average revenue per user to $30.22 in 2028, reaching 931 million users, have 104 million subscribers for a new unannounced product, which Musk called product X, and hire additional 3,600 employees.
ALSO READ:
Musk reached an agreement with Twitter on the acquisition of the social network for $54.20 per share in a transaction valued at approximately $44 billion in late April. Musk later said that he would like to revolutionize Twitter’s role in public debate as “free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated.”
The billionaire said earlier that he was ready to spend $21 billion of his own funds to seal the deal, and that Morgan Stanley Senior Funding, Bank of America, Barclays, and other institution will provide $25.5 billion in debt financing, with some $12.5 billion to of the loan to be secured with Tesla shares.
Tesla chief wanted details of the number of spam accounts on the social media platform
Tech1 week ago
Robosafe can also use artificial intelligence to carry objects around unsafe sites, recognize faces
Tech1 week ago
The device began life in 2001 with the promise of 'putting 1,000 songs in your pocket'.
Tech1 week ago
General manager, Kayvon Beykpour, is leaving after 7 years
Tech1 week ago
The former CEO owns a 2.4 per cent stake in the platform
Tech1 week ago
The social media platform has to comply with the laws and regulations of multiple countries while taking into account the reaction of advertisers, users and politicians
Tech1 week ago
Mahmoud Chahoud fled Syria in 2013 carrying his degree in information and computer engineering
Tech1 week ago
The social media platform is rolling out a new feature with a small audience for now
Tech1 week ago