NEW YORK, March 27 — Elon Musk has put the current value of Twitter at US$20 billion (RM88.56 billion), less than half the US$44 billion he paid for the social media platform...
NEW YORK, March 27 — Elon Musk has put the current value of Twitter at US$20 billion , less than half the US$44 billion he paid for the social media platform just five months ago, according to an internal email seen by American news media.
The compensation plan values the platform at US$20 billion, slightly more than that of Snap , parent company of Snapchat, or of social network and creative website Pinterest , both of which, unlike Twitter, are publicly traded. In the internal email, Musk describes the brutal contraction in Twitter’s value. He says the platform faced such grave financial difficulties that at one point it was on the verge of bankruptcy.He cited a revenue drop of US$1.5 billion a year and a debt-servicing burden of the same amount — leaving it with “only 4 months of money”.