Elon Musk puts Twitter’s value at just $20 billion

Twitter Inc CEO Elon Musk has offered the social-media company’s employees stock grants at a valuation of nearly $20 billion, the Information reported on Saturday, citing a person familiar with an email Musk sent to Twitter staff.

The reported valuation is less than half of the $44 billion that Musk paid to acquire the social media platform, pointing to a drop in Twitter’s value.

Twitter did not immediately respond to a Reuters’ emailed request for a comment. Musk said in December that Twitter is on track to be “roughly cash flow break-even” in 2023 as top advertisers slashed their spending on the social-media platform after the billionaire’ s takeover.

Meanwhile, some parts of Twitter Inc’s source code have been leaked and the social media platform owned by billionaire Elon Musk is seeking information on the person responsible, a legal filing showed.

According to the filing, “various excerpts” of Twitter’s source code, which is used to run the company online, were posted on GitHub, a Microsoft-owned platform for sharing code for software development, by a user named ‘FreeSpeechEnthusiast’.

Github said it took down the code on Friday at Twitter’s request.

Twitter has asked the US District Court for the Northern District of California to order GitHub to produce “All identifying information” associated with the ‘FreeSpeechEnthusiast’ username, the March 24 filing showed.

The post Elon Musk puts Twitter’s value at just $20 billion appeared first on Techlusive.