In what is being termed as a surprise turn of events, new Twitter chief Elon Musk is seeking investors at a similar price that he paid while acquiring the firm.
In case you didn’t know, so many investors have fled the company after they glanced over Elon Musk’s decisions to moderate content on the app and police various tweets.
The news comes to us as the company’s managing director is seeking new investors as mentioned by two people who are close to this effort for fundraising.
Meanwhile, Elon Musk’s manager has opted to set out an offer for shares at the price worth $52 which is the same that the Tesla CEO paid out when making the company private in October of this year.
For now, both Musk and Twitter didn’t exactly respond to requests for comments on the matter but it’s definitely a prospect that they hope to achieve success with soon.
At the start of this week, Musk was seen selling out shares for his own firm on the app and that is what made it $40 billion in total for shares sold in 2022 by Tesla. If we look at previous statistics, it’s actually the second biggest chunk of shares Musk has made since he bought the Twitter app. And it’s surprising, to say the least as the billionaire vowed that the wouldn’t be selling any more shares.
In the meantime, it was interesting as we witnessed the app’s advertisers walk away as so many feared the fate of this application in terms of Musk’s policing strategy. That certainly affected revenues and the ability to pay out interest on this mega $13 billion debt that Musk took to purchase this social media firm.
On the other hand, one of the app’s investors mentioned boldly how he did put out $1 million in the original investment made when Twitter was purchased. His name is Ross Gerber and now, he’s been contacted again as reported by Semafor.
In other news, after banning and reinstating some influencers and journalist accounts, the billionaire issued an apology by tweeting that "Going forward, there will be a vote for major policy changes."
In case you didn’t know, so many investors have fled the company after they glanced over Elon Musk’s decisions to moderate content on the app and police various tweets.
The news comes to us as the company’s managing director is seeking new investors as mentioned by two people who are close to this effort for fundraising.
Meanwhile, Elon Musk’s manager has opted to set out an offer for shares at the price worth $52 which is the same that the Tesla CEO paid out when making the company private in October of this year.
For now, both Musk and Twitter didn’t exactly respond to requests for comments on the matter but it’s definitely a prospect that they hope to achieve success with soon.
At the start of this week, Musk was seen selling out shares for his own firm on the app and that is what made it $40 billion in total for shares sold in 2022 by Tesla. If we look at previous statistics, it’s actually the second biggest chunk of shares Musk has made since he bought the Twitter app. And it’s surprising, to say the least as the billionaire vowed that the wouldn’t be selling any more shares.
In the meantime, it was interesting as we witnessed the app’s advertisers walk away as so many feared the fate of this application in terms of Musk’s policing strategy. That certainly affected revenues and the ability to pay out interest on this mega $13 billion debt that Musk took to purchase this social media firm.
On the other hand, one of the app’s investors mentioned boldly how he did put out $1 million in the original investment made when Twitter was purchased. His name is Ross Gerber and now, he’s been contacted again as reported by Semafor.
In other news, after banning and reinstating some influencers and journalist accounts, the billionaire issued an apology by tweeting that "Going forward, there will be a vote for major policy changes."
Update: Elon Musk is also looking for people's opinion on should he step down as head of Twitter? Over 17.5 million users have participated in the poll and 57.5% want him to step down as Twitter's CEO, while only 42.5 percent still want him to be Twitter's Chief. Now, let's see how things will unfold from here.
Read next: Have Opinions on Elon Musk’s Twitter Takeover Changed?
Read next: Have Opinions on Elon Musk’s Twitter Takeover Changed?
