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X (Twitter) to turn proiftable next year

Economic Times

Economic Times · 1y ago

X (Twitter) to turn proiftable next year

Linda Yaccarino, CEO of X (formerly known as Twitter), stated that the social media platform could turn a profit in early 2024 under Elon Musk's ownership. She defended the company's progress and addressed concerns regarding advertiser retention and the platform's changes. Yaccarino mentioned positive trends in key metrics but did not provide specific information. While facing lawsuits and accusations of unpaid rent and severance, X has also faced scrutiny over hateful and antisemitic content. Yaccarino defended the progress made on safety measures and defended Musk's right to freedom of speech.

Related News

Turbulence, controversies dog Elon Musk's first year as X owner

Economic Times

Economic Times · 1y ago

Turbulence, controversies dog Elon Musk's first year as X owner

Elon Musk's acquisition of Twitter, now X, for $44 billion a year ago has been marked by controversies. Musk laid off over 80% of Twitter staff, including the Indian-origin CEO Parag Agrawal, and dissolved the trust and safety council. Twitter saw a surge in anti-semitic tweets since Musk took charge, and the European Commission has initiated an investigation into X over the spread of illegal content and disinformation. Verified users with Blue badges were found responsible for spreading most misinformation about the Israel-Hamas conflict on X. X has also dropped in global rankings, losing over half a billion user visits.

Mars by 2026? Elon Musk shares critical updates.

Business Today

Business Today · 2m ago

Mars by 2026? Elon Musk shares critical updates.

Elon Musk envisions Mars as a canvas to reimagine civilization, including its governance and rules. In a 42-minute video on X (formerly Twitter), he detailed plans to launch the massive Starship to Mars as early as next year, with an expected arrival seven to nine months later in 2027. This initiative aims to offer Martians the freedom to "recompile" civilization, creating a new societal framework beyond Earth's constraints.

Linda Yaccarino steps down as CEO of Elon Musk’s X after two years - The Economic Times

Economic Times

Economic Times · 1m ago

Linda Yaccarino steps down as CEO of Elon Musk’s X after two years - The Economic Times

Linda Yaccarino has resigned as CEO of X, formerly Twitter, after two years. Joining in 2023 post-Elon Musk's acquisition, she focused on stabilizing advertising and launched features like Community Notes and X Money. Her tenure prioritized user safety and advertiser trust. As X prepares for deeper integration with Musk's AI venture, xAI, Yaccarino did not announce her next steps but remains engaged with the platform's community. She previously held key roles at NBCUniversal.

Video viewership on X nearly doubled since last year: Musk

Economic Times

Economic Times · 1y ago

Video viewership on X nearly doubled since last year: Musk

Elon Musk revealed that video viewership on X Corp (formerly Twitter) has almost doubled since last year. The CEO, Linda Yaccarino, also noted a significant increase in video streaming compared to the previous year. Musk aims to transform X into "the everything app." Last month, X announced extended video capabilities for premium subscribers, including longer video posts and the ability to download videos. The platform will soon introduce video and audio call features, accessible across various devices without needing phone numbers.

X’s Indian subsidiary sees 90% plunge in FY24 revenue, profit as ad business falters

YourStory

YourStory · 10m ago

X’s Indian subsidiary sees 90% plunge in FY24 revenue, profit as ad business falters

Twitter Communications India Private Limited, an Indian subsidiary of X (previously Twitter), experienced a significant decline in revenue and profit for the fiscal year ending in March 2024, mainly due to a decrease in its ads business. The company's net profit dropped by about 90%, from Rs 30.5 crore in the previous year to Rs 3.2 crore in FY24. Operating revenue also saw a steep decline, falling from Rs 207.7 crore to Rs 21.2 crore. The company provides support services to Twitter group companies and reported a decrease in revenue from marketing support, research and development, and user support services. Expenses decreased by 88.9% in FY24. Twitter India's net worth increased to Rs 61 crore during that period.

Elon Musk says posts added to ‘Highlights Tab’ will have higher reach

Livemint

Livemint · 1y ago

Elon Musk says posts added to ‘Highlights Tab’ will have higher reach

Elon Musk has announced that posts added to the 'Highlights' tab on X (formerly Twitter) will receive a 'slight boost' in reach. This feature allows premium users to curate and showcase their most interesting posts. Musk previously mentioned this feature in November last year, promising greater reach for highlighted posts. In other news, Musk's AI startup, xAI, is going open-source next week, following the trend of companies like Meta and France's Mistral. This move comes amidst a lawsuit filed by Musk against OpenAI, accusing them of straying from their non-profit mission.

X is worth 71% less now after Elon Musk took over and burned its bridges with advertisers: Fidelity

Business Insider

Business Insider · 1y ago

X is worth 71% less now after Elon Musk took over and burned its bridges with advertisers: Fidelity

Elon Musk's acquisition of X (formerly Twitter) has led to a significant decline in its value, with Fidelity reporting a 71.5% decrease since the purchase. Fidelity has been revising down the value of its equity stake in X consistently since Musk took over, estimating it to be worth around $15 billion in May 2023. X faced financial challenges throughout the year, including a drop in advertising revenue and a boycott by major advertisers due to controversy surrounding Musk's endorsement of an antisemitic post.

Elon Musk auctioning Twitter items after rebranding as 'X'

Startup News FYI

Startup News FYI · 2y ago

Elon Musk auctioning Twitter items after rebranding as 'X'

Just weeks after Twitter's rebranding as 'X', Elon Musk has initiated an auction of various items from the company, as reported by BBC.com. After rebranding as "X," Elon Musk is auctioning Twitter-related items. The tech mogul is selling his first tweet, digital collectibles, and other Twitter-themed merchandise.

Elon Musk's X lowers cost for gold checkmark 10 months after trying to get businesses to pay $12K a year

Business Insider

Business Insider · 1y ago

Elon Musk's X lowers cost for gold checkmark 10 months after trying to get businesses to pay $12K a year

Elon Musk's social media platform, X (formerly Twitter), is now offering businesses a discounted verification plan for $200 a month. Last year, the platform had announced that businesses would have to pay $1,000 monthly for a gold checkmark. This move suggests that the previous pricing was not successful in attracting businesses. It comes amidst concerns over the financial health of X, as its estimated valuation has dropped significantly since Musk's acquisition.

Data will show efforts to fight hate: X CEO Linda Yaccarino tells staff as advertisers flee

Economic Times

Economic Times · 1y ago

Data will show efforts to fight hate: X CEO Linda Yaccarino tells staff as advertisers flee

CEO of social media company X, Linda Yaccarino, assured employees that data will reveal the truth about their efforts to combat antisemitism amidst backlash from several major advertisers. X, previously known as Twitter, faced criticism after owner Elon Musk agreed with a post wrongly accusing Jewish people of inciting hatred. Major brands' ads were found next to pro-Nazi posts, revealed by media watchdog group Media Matters. Musk announced plans to file a lawsuit against Media Matters, who confirmed the accuracy of their reporting. The incident highlights the growing problem of antisemitism globally.

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