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Elon Musk puts $20 billion value on Twitter - The Information
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Twitter Inc CEO Elon Musk has offered the social-media company's employees stock grants at a valuation of nearly $20 billion, the Information reported on Saturday, citing a person familiar with an email Musk sent to Twitter staff.
The reported valuation is less than half of the $44 billion that Musk paid to acquire the social media platform, pointing to a drop in Twitter's value.
Twitter did not immediately respond to a Reuters' emailed request for a comment.
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.
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23.04 / 12:39
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Epic Games CEO Gets Dunked On For Buying Twitter Blue, Calls Everyone "Losers"
After weeks of relative calm, Elon Musk has clumsily introduced yet another sweeping change to Twitter, causing a whole host of problems many of us saw coming a mile away. Yep, he finally got rid of all legacy checkmarks, meaning that anyone with a tick next to their name has paid for Twitter Blue. Well, not everyone. Some celebs were given one for free, for some reason. But we'll touch on that later.
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