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Musk Says Most Advertisers That Left Twitter Have Returned
Posted
April 12, 2023
Views
5,509
Likes
102
Comments
7
Engagement
1.98%
April 12, 2023
5,509
102
7
1.98%
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0:59Now PlayingElon Musk declared that most of the advertisers who abandoned Twitter after his $44 billion acquisition have returned, and said the company could become cash-flow positive as soon as this quarter.
Speaking in a rambling Twitter Spaces interview with the BBC, Musk said there are just 1,500 employees left, down from around 8,000, and he reaffirmed Twitter is operating at about breakeven. More than 3 million concurrent users tuned in to the almost two-hour-long conversation, which at times became combative as the billionaire turned the tables on his interviewer and questioned the BBC’s track record on everything from Covid misinformation to hate speech.
Twitter reported positive cash flow in July, its last earnings disclosure before the culmination of Musk’s tumultuous acquisition. The company was saddled with billions of dollars of debt from the deal, so restoring it to profitability may go some way to validating the drastic cuts in staff and facilities that Musk made upon completion — though he has also been accused of failing to pay various company expenses, from office rents to ex-employees’ severance to former executives’ legal fees.
Musk said he only completed his purchase of Twitter last year because he was legally forced to do so, after the company’s board sued him to close the deal. He later added that he probably wouldn’t sell Twitter even if offered the same price today.
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