Elon Musk makes new statement on Twitter deal as deadline nears
Elon Musk revealed more of his vision for Twitter on Thursday with a message to advertisers — a sign that the tech titan's $44 billion acquisition of the
Elon Musk revealed more of his vision for Twitter on Thursday with a message to advertisers — a sign that the tech titan's $44 billion acquisition of the social media platform is moving forward ahead of a court-ordered Friday deadline to seal the deal.
In a post on Twitter addressed to the platform's advertisers, Musk, who has replaced his Twitter biography with "Chief Twit" and made his location "Twitter HQ," said he wants to see Twitter become a global leader in advertising and brand awareness.
“Twitter aspires to be the most respected advertising platform in the world that strengthens your brand and grows your enterprise,” he said.
As much as 92% of Twitter's revenue comes from advertising sales: In its most recent quarter, Twitter generated $1.08 billion in ads out of a total of $1.18 billion in revenues. Those figures missed analysts' expectations, signaling flagging growth for the 16-year-old website.
But Musk said in his post that he is not buying Twitter to "make more money." Instead, he said, he is doing so “because it is important to the future of civilization to have a common digital town square, where a wide range of beliefs can be debated in healthy manner, without resorting to violence.”
Rating: 5