HomeTechnologyAccording to Elon Musk, Twitter would be saved from bankruptcy

According to Elon Musk, Twitter would be saved from bankruptcy

Elon Musk said that the social network has been on the brink of bankruptcy in the last three months. Twitter is now on a trend that should bring the company to break even, according to Twitter’s boss.

Are Twitter’s financial worries now a thing of the past? At least that’s what we should believe from Elon Musk’s statements. On Sunday, February 5, the new owner of the platform indicated that as it stands, the company is heading towards financial equilibrium, reports CNBC.

Flight of advertisers and non-payments

This post is a response to a Wall Street Journal article that wondered how the head of SpaceX, Tesla and Twitter found time to sleep. In recent weeks, the billionaire has had to juggle a rocket launch, a lawsuit over his Tesla stock tweets, and Twitter’s financial twists and turns.

However, these statements go against the information collected about the company. In January, the advertiser drain resulted in a 40% drop in daily revenue compared to last year. Likewise, the company continues to be the subject of numerous complaints for non-payment.

Elon Musk’s gamble to make Twitter profitable was to divert ad revenue to a subscription-based model. To do this, the social network has reviewed the strategy of its Twitter Blue offer.

Available from Friday, February 3 in France, this service grants several benefits, including: a certification badge, the ability to edit a tweet or even the publication of longer videos in Full HD. The French subscription is charged 9.60 euros from a computer, 11 euros from a mobile. An annual subscription is also offered and reduces the monthly cost to 8.40 euros.

Author: pierre monnier
Source: BFM TV

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