‘Had to Save Twitter From Bankruptcy’: Elon Musk Reveals ‘Extremely Tough’ Period Following Twitter Takeover

Elon Musk has reduced about half of Twitter's staff and introduced a revamped Twitter Blue subscription service to boost revenue.

By ANI | Updated: 6 February 2023 10:07 IST

‘Had to Save Twitter From Bankruptcy’: Elon Musk Reveals ‘Extremely Tough’ Period Following Twitter Takeover

Photo Credit: Reuters

Elon Musk acquired Twitter for $44 billion in October

Highlights

Elon Musk had said that Twitter was losing $4 million a day.
Twitter announced that it will start charging a fee to access its API
Musk has made many changes to Twitter since he acquired the platform

Twitter and Tesla CEO Elon Musk on Sunday said that the past three months have been "extremely tough" as he "had to save Twitter from bankruptcy" while also fulfilling his duties in Tesla and SpaceX. Taking to his official Twitter handle, Musk said that the microblogging site continues to have challenges.

Elon Musk tweeted, "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. Twitter still has challenges, but is now trending to breakeven if we keep at it. Public support is much appreciated!". He tweeted in response to The Wall Street Journal's news article.

Musk lamented the company's "massive drop in revenue" just one week after closing the $44 billion (roughly Rs. 3.6 lakh crore) deal to buy Twitter in October, which he attributed to "activist groups pressuring advertisers," Fox Business reported. Since then, he has made a number of changes on Twitter, as per the news report.

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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.

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

Elon Musk has reduced about half of Twitter's staff, introduced a revamped microblogging site Blue subscription service and even auctioned off memorabilia from the company's San Francisco headquarters, Fox Business reported. He defended the Twitter layoffs in November, stressing that the company was losing $4 million (roughly Rs 33 crore) a day.

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Recently, Twitter announced that it will start charging a fee to access its API, which developers use to create third-party services, as per the news report. Earlier on January 13, Musk revealed some of the changes that were set to be introduced in the microblogging platform from next week onwards. He wrote, "Bookmark button moving to tweet details page, fixing image length crop & other minor bug fixes next week."

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