The Numbers That May Have Convinced Elon Musk That Twitter Was Worth $44 Billion
Elon Musk is something however standard. Sometimes, when corporations (or multi-billionaires) spend boatloads of cash on acquisitions, they take their time reviewing inside paperwork and monetary statements that aren’t obtainable to the general public—earlier than making their supply to purchase. However that’s not how Musk did it.
Within the lead-up to his momentous $44 billion deal to purchase Twitter, Musk, within the curiosity of pace, reportedly waived the opportunity to do a deep dive into Twitter’s funds. Granted, he says he’s buying the social media firm not to earn more money, however primarily to advertise a set of lofty beliefs associated to freedom of speech.
Twitter has huge international affect and has maintained regular consumer progress in recent times. However the firm’s monetary efficiency has been pretty lackluster not too long ago. For the 2021 fiscal 12 months, it posted a web earnings lack of $221.4 million, following a a lot deeper annual lack of $1.14 billion for 2020. Right here’s a have a look at a few of the details and figures that possible satisfied Musk (and his bankers) to pursue the deal anyway.
Twitter by the Numbers
Every day 500 million Tweets get despatched out; some 70% of U.S. Twitter customers say they get information on the platform.
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