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In 2021, Twitter posted revenue of $5 billion.
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The blue bird social network registered 7,500 employees in 2021.
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The company was bought by businessman Elon Musk.
Since the purchase of Twitter by Elon Musk, the negative news continues to arrive at the technology company. Now, it was revealed that the blue bird social network, in just one year, the company’s daily revenues have suffered a drop of approximately 40 percent, as well as the loss of advertisers.
Let’s remember that Twitter is one of the most used platforms in the world, and according to estimates in 2023, the number of monthly users of the social network could exceed 340 million, that is, 50 million more than those registered as of 2019, they point out data from your annual report.
These data seem to remain in the past, because according to The Information, indicates that a senior manager revealed to the company’s employees that the income compared to the previous year. Likewise, the publication of the American media highlights that Siddharth Rao, an engineering manager, announced the departure of advertisers due to the arrival of Musk.
All this exit is due to the fact that one of the main intentions of the South African billionaire was to diversify the company’s income so as not to depend on long-term advertisements.
Musk’s intention to break even financially in 2023 is not to rely on advertisers. However, to achieve this, the company must generate approximately three billion dollars in revenue this year, The same that the company projected when the mogul took control, in order to be able to pay 1.5 billion dollars a year in interest on the debt obtained to complete the acquisition of Twitter for 44 billion dollars.
All this panorama will continue to grow, since after the changes, layoffs and even new functions, some advertisers They have criticized the businessman’s focus on content moderation, as well as reinstating banned accounts like Donald Trump’s.
This is not the first time that the international media have reported the reactions of advertisers. Let’s remember that in November 2022 it was revealed that 50 of the top 100 advertisers had decided to withdraw from the platform after the mogul began making changes to Twitter.
There are many companies that are starting this 2023, with loss of money, and even billionaire figures such as Elon Musk or Jeff Bezos who have lowered their figures. At the end of 2022, Jeff Bezos lost money every minute, reducing his fortune by more than 60 billion, so Amazon achieved its value highest on July 8, 2021, and has since fallen nearly 45 percent, according to estimates.
In Amazon’s case, its losses may be due to a more diversified market or the fact that people aren’t spending as much money as they did during the pandemic.
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