Elon Musk says Twitter has lost half its advertising revenue
1 year, 5 months ago

Elon Musk says Twitter has lost half its advertising revenue

The Hindu  

Twitter has lost roughly half of its advertising revenue, according to owner Elon Musk, since he bought the social media platform for $44 billion last October. Earlier this month, Musk announced that Twitter was limiting verified accounts to reading 10,000 tweets a day, in a bid "to address extreme levels of data scraping" and "system manipulation" by third-party platforms. Twitter is thought to have around 200 million regular users but it has suffered repeated technical failures since Musk bought the platform and sacked thousands of staff. In a letter to Zuckerberg, published by the online news outlet Semafor this week, Musk's lawyer also accused the company of recruiting dozens of former Twitter employees who "had and continue to have access to Twitter's trade secrets and other highly confidential information."

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