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Twitter revenue fell by 40% - the company began to sell off office equipment.
The year before last, Twitter generated about $5.1 billion, and about 90% of that amount came from ad sales. The transformations initiated by Elon Musk could not but affect Twitter's revenue, although he received control of the company only at the end of October. Twitter's revenue fell 40% last year, according to people familiar with the matter. The company also auctioned an extensive range of furniture and office equipment from its headquarters.
Since becoming a private company in the fall, Twitter is no longer required to publish financial statements, but the Platformer publication from the pages of this social network today said that Twitter's revenue has decreased by 40%, and soon the new management will have to pay a large amount to repay the loan that was taken at closing the deal at the end of October. The specific values of the amounts were not disclosed, but they will certainly become known in the coming days. After the transition of Twitter under the control of Elon Musk, it is believed that the flow of money from advertisers dropped sharply, and subscription revenue did not have time to gain momentum.
Along the way, it became known that used things from the head office of Twitter in San Francisco were exhibited at the Heritage Global Partners auction. A significant part of the lots is related to the preparation of food and drinks, which were provided to the company's employees before the large-scale reduction in staff and related costs. There are computers, projectors and office furniture among the things put up for sale. One of the interior elements in the form of a large luminous sign in the shape of the Twitter logo even interested the buyer, who was ready to shell out $ 17,500 for it.