Elon Musk Values ​​Twitter at Just $20 Billion


Twitter Inc CEO Elon Musk is offering stock grants at the social-media company’s employees at a valuation of about $20 billion, reported Saturday, citing an email Musk sent to Twitter employees. .

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

Twitter did not immediately respond to an email request from Reuters for comment. Musk said in December that Twitter was on track to be “roughly cash flow break-even” in 2023 as top advertisers slashed their spending on the social-media platform following the billionaire’s acquisition.

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

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

Github said it removed 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 username ‘Freespeech Enthusiast’, a March 24 filing showed.

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