Twitter Inc CEO Elon Musk has provided the social-media firm’s staff inventory grants at a valuation of practically $20 billion, the Information reported on Saturday, citing an individual aware of an electronic mail Musk despatched to Twitter workers.
The reported valuation is lower than half of the $44 billion that Musk paid to amass the social media platform, pointing to a drop in Twitter’s worth.
Twitter didn’t instantly reply to a Reuters’ emailed request for a remark.
Musk stated in December that Twitter is on monitor to be “roughly cash flow break-even” in 2023 as prime advertisers slashed their spending on the social-media platform after the billionaire’ s takeover.
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Source: economictimes.indiatimes.com