Elon Musk pledged to increase 5 times, 10 times the amount of money investors contributed to help me buy Twitter
BI reported that Elon Musk wants to hire thousands of new employees at Twitter, along with laying off some current employees as soon as the $44 billion acquisition is complete. In addition, he also created new products called “X” and increased 5 times the user base of the platform.
BI called Musk a “confusing leader” and reported that he had told investors he could dramatically increase the company’s revenue while helping to reduce reliance on advertising revenue. This information was sent by Musk to investors to help him raise money for the $44 billion acquisition.
The Tesla and SpaceX CEO previously said that he had gathered the full $46.5 billion before officially announcing the offer. By last Thursday, some information appeared that Musk had added $ 7.1 billion from a number of individual investors including the CEO of Binance.
Musk plans to increase average revenue per user from $5.39 to $30.22 by 2028. This increase in revenue per user will lead to a fivefold increase in companywide profits. $26.4 billion.
He also said that he wants to hire 3,600 new employees by 2025 and will lay off several hundred. Twitter will employ 11,072 people by 2025 – a mark-up to its current workforce of 7,500. However, Musk believes that number will increase and decrease next year.
In Elon Musk’s forecast, there is also a target to reach 931 million users by 2028 with 104 million users registering a new product called X. However, even though product X appeared in the presentation, it is expected to attract attention. 9 million users in the first year but there is currently no proof of how this product really works.
Musk also told investors that he is highly confident he will double or triple the amount of money investors have helped him pour into the $44 billion acquisition. Musk says they will see 5 to 10 times more profits if everything goes well.
Also in the plan to reshuffle Twitter after the successful acquisition, in early May Musk said that he expected to become the interim CEO of Twitter in a few months after he completed his $ 44 billion acquisition.
Twitter CEO Parag Agrawal has just led the company for a few months after taking over from former CEO Dorsey last November. So far, there hasn’t been much discussion about whether Musk’s deal will lead to a complete restructuring of the leadership. But last month, Reuters reported that Musk was looking for a new CEO for Twitter.
For his part, Agrawal told employees during a meeting last month that Twitter’s future is now uncertain in Musk’s hands.
“Once the deal is complete, we don’t know where the platform will go,” Agrawal said when asked if the company could allow former President Donald Trump to return to the platform when Musk acquires the platform. catch or not. Mr. Trump’s account has been blocked since last year.
Musk’s acquisition of Twitter comes at a pivotal time for the company. Agrawal has said that he will focus on growing Twitter’s daily user base and bringing new products to customers. In the company’s latest earnings report, Twitter said that it hit 229 million daily active users, up 15.9% year-over-year.
Source: BI
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