NewsUSATwitter's valuation falls to less than half since Elon Musk bought it

Twitter’s valuation falls to less than half since Elon Musk bought it

Twitter has been devalued. The company has launched an incentive plan aimed at its employees that takes as a reference a company valuation of 20,000 million dollars (about 18,500 million euros, at the current exchange rate), according to an internal communication to which the media have had access. American specialists. That figure is less than half of the 44,000 million that the company was valued in the operation with which Elon Musk bought it.

Musk already paid a price for Twitter that overvalued the company, not only because of the control premium he offered in the transaction, but also because market conditions had suddenly changed, with digital advertising on the wane.

To this was added the chaos of the arrival of the tycoon born in Pretoria (South Africa), with the dismissal of half of the staff of 7,500 employees and the resignations of hundreds. Advertisers fled at the rise of hate speech and the change in content moderation policies. In addition, a large part of the members of the commercial teams were laid off.

The valuation of 20,000 million is not strictly a market price, but it is in the same line as the value correction that was applied at the end of last year by the manager Fidelity, whose funds are shareholders of the company.

Musk maintains in the same message, however, that the social network has the opportunity to multiply its value by more than 10 if it does things right and reach 250,000 million dollars.

The social network continues to apply the changes that Elon Musk has implemented, among which the promotion of the subscription model that implies that the blue check mark is paid stands out. After a transitory period in which the network has maintained the verification mark for those who had it with the previous system (which prioritized the public relevance of the user), from this April 1 only those who pay will have their blue badge.

On the other hand, this weekend it has emerged that part of Twitter’s source code has been leaked and has been exposed on the internet for an indeterminate period of time.

Twitter has also asked the court to identify the alleged infringer or infringers who posted Twitter’s source code on systems managed by GitHub without the social network’s authorization. The leaking and exposure of the code implies risks that vulnerabilities in the platform or related to the private data of its users have been exposed.

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