Twitter CEO Elon Musk has confirmed plans to change the name of the social network. The company may be referred to as “X”. information entrepreneur confirmed in a comment to T(w)itter Daily News.
twitter inc was founded in 2006. Elon Musk bought it in the fall of 2022. The deal is valued at $44 billion.
- In December 2022, Twitter platform revenue and net profit decreased 40% year-on-year. Analysts attributed the drop to advertisers leaving the social network after Elon Musk joined the company.
- To reduce business costs, Elon Musk reduced the company’s staff by 50%. The wave of layoffs in February 2023 was already the eighth since the purchase of the social network by an American billionaire.
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karina pardaeva
Source: RB
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