Elon Musk wants to increase Twitter’s annual revenue to $26.4 billion by 2028, which is five times more than the $5 billion the tech company generated in 2021. According to reporting by the New York Times.
The Tesla founder’s plan involves less reliance on advertising, which will decrease in revenue, and shift a portion of their focus on subscriptions. Additionally, his plan is to increase cash flow to $9.4 billion, possibly for future accusation of another company to expand growth.
These reports come after last month’s purchase of Twitter for $44 billion. Musk has promised to make operational changes, expand the number of users, crackdown on bots and greater promotion of free speech
On Thursday, Musk listed a group of investors who are ready to provide funding of up to $7.14 billion for his Twitter bid. Investors include Oracle co-founder Larry Ellison and venture capital Sequoia.
A month ago, in a now deleted tweet, Musk suggested numerous changes to the social media’s premium subscription service, including reducing its price.
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