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Twitter CEO Elon Musk has announced that the social media company is set to break even next year thanks to the multiple changes made by the billionaire since his takeover in October.
Musk said last week during a Twitter Spaces audio chat that Twitter will be “roughly cash flow break-even” come next year due to the new services brought to the platform like Twitter Blue.
Musk also stated that the company was on track to have a “negative cash flow situation of $3 billion per year” when he first took over the company given that the company had thousands of unneeded employees that lived off of substantial benefits and in-office luxuries.
To cut costs, the billionaire set out to rid Twitter headquarters in San Francisco, California of all of its luxuries which included expresso machines, private chefs, and various other amenities demanded by Twitter employees.
In doing so, Musk created a “hardcore” culture as he let go over 50% of the staff while demanding that all remaining employees work in the office for long hours, according to Newsmax.
The company, which now has roughly 2,000 employees after firings, was on track to spend $5 billion next year while it had $12.5 billion in debt. In 2021, Musk stated that the company grossed $5 billion and that he expected revenue to grow around 20 percent in 2022.
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Musk has made the growth of revenue his “number one priority” and in doing so he has been able to provide more services to users.
On Thursday, the Twitter CEO announced a new feature that would track how many views a user’s tweets received, similar to video counts.
“Twitter is rolling out View Count, so you can see how many times a tweet has been seen! This is normal for video,” he announced on Twitter. “Shows how much more alive Twitter is than it may seem, as over 90% of Twitter users read, but don’t tweet, reply or like, as those are public actions.”
Another change that has been made to make Twitter more profitable is the revamping of the blue checkmark under Twitter Blue. Users can now pay a monthly subscription fee of $11 to gain the coveted blue checkmark which allows a user’s tweets to be amplified and more widely shared.
In addition to tweet amplification, the service also gives early access to new features like “Edit Tweet.”
While Elon Musk has said that he will be stepping down as CEO of Twitter in the coming months, the actions he has taken thus far will put Twitter on a roadmap to success for years.
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Twitter CEO Elon Musk has announced that the social media company is set to break even next year thanks to the multiple changes made by the billionaire since his takeover in October.
Musk said last week during a Twitter Spaces audio chat that Twitter will be “roughly cash flow break-even” come next year due to the new services brought to the platform like Twitter Blue.
Musk also stated that the company was on track to have a “negative cash flow situation of $3 billion per year” when he first took over the company given that the company had thousands of unneeded employees that lived off of substantial benefits and in-office luxuries.
To cut costs, the billionaire set out to rid Twitter headquarters in San Francisco, California of all of its luxuries which included expresso machines, private chefs, and various other amenities demanded by Twitter employees.
In doing so, Musk created a “hardcore” culture as he let go over 50% of the staff while demanding that all remaining employees work in the office for long hours, according to Newsmax.
The company, which now has roughly 2,000 employees after firings, was on track to spend $5 billion next year while it had $12.5 billion in debt. In 2021, Musk stated that the company grossed $5 billion and that he expected revenue to grow around 20 percent in 2022.
CNN CEO GETS A TASTE OF HIS OWN MEDICINE, SHOCKED BY LEFT-WING ‘VITRIOL’ AS HE ATTEMPTS TO REVAMP NETWORK
Musk has made the growth of revenue his “number one priority” and in doing so he has been able to provide more services to users.
On Thursday, the Twitter CEO announced a new feature that would track how many views a user’s tweets received, similar to video counts.
“Twitter is rolling out View Count, so you can see how many times a tweet has been seen! This is normal for video,” he announced on Twitter. “Shows how much more alive Twitter is than it may seem, as over 90% of Twitter users read, but don’t tweet, reply or like, as those are public actions.”
Another change that has been made to make Twitter more profitable is the revamping of the blue checkmark under Twitter Blue. Users can now pay a monthly subscription fee of $11 to gain the coveted blue checkmark which allows a user’s tweets to be amplified and more widely shared.
In addition to tweet amplification, the service also gives early access to new features like “Edit Tweet.”
While Elon Musk has said that he will be stepping down as CEO of Twitter in the coming months, the actions he has taken thus far will put Twitter on a roadmap to success for years.
You Can Follow Sterling on Twitter Here