Amid reports of Twitter losing users and advertisers, Elon Musk on Sunday said that Twitter is not going bankrupt but is not secure yet. The Twitter head was responding to a tweet on the micro-blogging site’s finances.
Farzad Mesbahi, a YouTuber who covers future technologies, tweeted: “On today’s All In podcast Elon Musk says, We’ve gotten the expenses (of Twitter) under control, so the company isn’t on the fast lane of Bankruptcy anymore”.
Responding to this, Elon Musk replied: “Twitter isn’t secure yet, just not in the fast lane to bankruptcy. Still much work to do”.
Earlier, Musk attempted to increase revenue for Twitter by rolling out Blue tick subscription, which costs $8 per month to purchase on the web or $11 per month via the iOS App Store.
Recently, the billionaire also Musk showed interest in offering people to invest in Twitter at $54.20 per share, the original rate at which he acquired it for $44 billion.
According to news portal Semafor, Musk’s money manager Jared Birchall has reached out to potential investors, “offering shares of Twitter at the same price, $54.20, that Musk paid to take the company private in October”.
Meanwhile, according to a report in MIT Technology Review, Bot Sentinel, which tracks inauthentic behavior on Twitter believes that around 877,000 users deactivated their accounts while 497,000 accounts were suspended between October 27 and November 1. Moneycontrol