The ‘Information’: Elon Musk puts US$20b value on Twitter

SAN FRANCISCO, March 26 — Twitter Inc CEO Elon Musk has offered the social-media company’s employees stock grants at a valuation of nearly US$20 billion (RM88.6 billion), the...

SAN FRANCISCO, March 26 — Twitter Inc CEO Elon Musk has offered the social-media company’s employees stock grants at a valuation of nearly US$20 billion , thereported on Saturday, citing a person familiar with an email Musk sent to Twitter staff.

The reported valuation is less than half of the US$44 billion that Musk paid to acquire the social media platform, pointing to a drop in Twitter’s value.Musk said in December that Twitter is on track to be “roughly cash flow break-even” in 2023 as top advertisers slashed their spending on the social-media platform after the billionaire’ s takeover. — Reuters

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