After all the negative reports about Twitter that have arisen in recent times, the app’s chief finally has some great news to share.
Elon Musk was reported as confirming that his micro-blogging website may soon break even in cash flows. And they’re expecting a timeframe for this to occur as early as next month, which is Q2. Moreover, he adds that it’s a great sign of positivity and one that the firm has been working hard against for a while now.
Twitter has been suffering great losses in terms of its revenue that once came solely from advertising. But now, Musk’s great efforts at reducing costs by firing employees and introducing more features including paid subscriptions are yet to get it back on track.
But there is hope and this new report is signaling just that and more.
The firm seems to be trying to improve its advertising and by that, we mean adding greater relevancy to it. Remember. Elon Musk purchased Twitter last year for a staggering $44 billion and he really wished to see things work in his favor.
But the burden of debt is real and very high with the high costs of services surrounding this debt being nearly $1.5 billion each year. This is just as equivalent to the current rate for cash burn. Musk noted how much attention his app gets but it’s shocking how little funds it continues to make and he really wishes to change that soon.
Musk further elaborated on how optimistic he feels about the future of this firm and what has taken place in the last few months. He feared that it had a shot of going bankrupt soon if it failed to take necessary steps to curb the never-ending expenses.
So many advertisers opted to take a step back when he became the head as they predicted great uncertainty.
These recent comments were made by Elon Musk during a recent meeting at the Morgan Stanley Tech conference but that was not all he spoke about.
Other parts of his discussion included announcements linked to his Tesla Inc, and SpaceX. After all, the billionaire is the CEO of those firms too.
Musk further elaborated on how the entire journey with Twitter has certainly not been an easy one for him and he knows that even if the firm does break even soon, it’s still a tough road that lies ahead. But again, the goal is to never lose focus.
H/T: Businessinsider
Read next: Long Form Tweets Up To 10k Characters Are Coming Soon As Twitter Opts To Remove Recorded Live-Stream Archives
Elon Musk was reported as confirming that his micro-blogging website may soon break even in cash flows. And they’re expecting a timeframe for this to occur as early as next month, which is Q2. Moreover, he adds that it’s a great sign of positivity and one that the firm has been working hard against for a while now.
Twitter has been suffering great losses in terms of its revenue that once came solely from advertising. But now, Musk’s great efforts at reducing costs by firing employees and introducing more features including paid subscriptions are yet to get it back on track.
But there is hope and this new report is signaling just that and more.
The firm seems to be trying to improve its advertising and by that, we mean adding greater relevancy to it. Remember. Elon Musk purchased Twitter last year for a staggering $44 billion and he really wished to see things work in his favor.
But the burden of debt is real and very high with the high costs of services surrounding this debt being nearly $1.5 billion each year. This is just as equivalent to the current rate for cash burn. Musk noted how much attention his app gets but it’s shocking how little funds it continues to make and he really wishes to change that soon.
Musk further elaborated on how optimistic he feels about the future of this firm and what has taken place in the last few months. He feared that it had a shot of going bankrupt soon if it failed to take necessary steps to curb the never-ending expenses.
So many advertisers opted to take a step back when he became the head as they predicted great uncertainty.
These recent comments were made by Elon Musk during a recent meeting at the Morgan Stanley Tech conference but that was not all he spoke about.
Other parts of his discussion included announcements linked to his Tesla Inc, and SpaceX. After all, the billionaire is the CEO of those firms too.
Musk further elaborated on how the entire journey with Twitter has certainly not been an easy one for him and he knows that even if the firm does break even soon, it’s still a tough road that lies ahead. But again, the goal is to never lose focus.
H/T: Businessinsider
Read next: Long Form Tweets Up To 10k Characters Are Coming Soon As Twitter Opts To Remove Recorded Live-Stream Archives
