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Owner of Twitter Elon Musk opened up on the status of the social media platform saying it has saved from bankruptcy and is now in for a breakeven.
Elon Musk tweeted on Sunday, “Last three months were extremely tough, as had to save Twitter from bankruptcy, while fulfilling essential Tesla & SpaceX duties. Wouldn’t wish that pain on anyone. Twitter still has challenges, but is now trending to breakeven if we keep at it. Public support is much appreciated!”
Last 3 months were extremely tough, as had to save Twitter from bankruptcy, while fulfilling essential Tesla & SpaceX duties. Wouldn’t wish that pain on anyone.
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Twitter still has challenges, but is now trending to breakeven if we keep at it. Public support is much appreciated!
— Elon Musk (@elonmusk) February 5, 2023
Daily user count and user minutes are “still strong,” Musk said in a follow-up tweet.
Musk on October 2022 completed a $44 billion deal for Twitter that gave him control of the company for $54.20 a share. After takeover of company musk was openly and frequently talking about chances of getting bankruptcy of twitter.
The platform made its first interest payment on the $12.5 billion in debt that the new owner used to take it private last year, boosting confidence in his ability to avert bankruptcy in the near term.
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