Drafting.- The Billionaire Elon Musk revealed that Twitter’s cash flow remains negative due to a nearly 50% drop in ad revenue and a heavy debt load.
“We need to get cash flow positive before we can afford to do anything else,” the tycoon said in a tweet on Saturday.
After Musk bought Twitter in October, the social network faced months of chaos, including layoffs of thousands of employees, criticism for lax content moderation, and an exodus of many advertisers who didn’t want their ads to appear alongside inappropriate content. .
The hiring of Linda Yaccarino, former head of advertising for Comcast’s NBCUniversal, as CEO indicates that ad sales remain a top priority for Twitter, even as it works to grow subscription revenue.
