Elon Musk Twitter News: Ever since Elon Musk, the world’s richest man, became the owner of Twitter, this micro-blogging site (micro-blogging site Twitter) has been consistently in the news. The latest news is that Twitter is not having a good time these days. The company went bankrupt. Advertising revenue has halved. The company’s cash flow is negative and its debt has increased. Elon Musk, the owner of the company, said this information by tweeting himself. Musk said the company needs to be cash-flow positive before taking any action. According to media reports, between April 1 and the first week of May, Twitter’s ad revenue fell 59 percent from last year. Only 43 percent of Musk’s company’s top 1,000 advertisers remain.
Advertisers pulled out
Notably, the world’s biggest billionaire Elon Musk bought the microblogging platform Twitter last year. Ever since Elon Musk became the owner of Twitter, the company has been in turmoil. Musk first ushered four top executives, including the company’s CEO Parag Aggarwal, outside. After this, there were massive layoffs across the world. He has since changed Twitter’s policy several times. After that, due to the possibility of changes in content policy, a large number of layoffs and uncertainty about the future of Twitter, most advertisers left the platform. However, Elon Musk said in an interview in April that Twitter is in a position to break even and that most advertisers have returned to its platform.
Twitter’s new challenge
In May of this year, Elon Musk hired Linda Iaccarino as CEO of Twitter to bring back advertisers who had left Twitter. He previously worked as a marketing executive at NBCUniversal. Twitter’s newly appointed CEO was busy bringing back Twitter’s old advertisers, while Elon Musk limited access to content for Twitter users. This dealt a blow to Linda Iaccarino’s efforts. The reason was that when users receive less content, their access to advertisers’ products will decrease. Elon Musk’s reasoning behind the move was that Twitter’s content was being widely stolen and needed to be stopped. However, Musk called the move temporary. On the other hand, adding to Twitter’s excitement, Mark Zuckerberg’s company Meta Platform recently added to Twitter’s difficulty by launching Threads. For your information, we inform you that Meta’s threads, which are considered as Twitter’s rival platform, have crossed 100 million downloads within a week of their launch, which is a strong indication that Twitter’s difficulties will diminish in the future. The day is getting longer
