SAN FRANCISCO, March 26 — Twitter Inc CEO Elon Musk has offered the social-media company’s employees stock grants at a valuation of nearly US$20 billion (RM88.6 billion), the Information reported on Saturday, citing a person familiar with an email Musk sent to Twitter staff.
The reported valuation is less than half of the US$44 billion that Musk paid to acquire the social media platform, pointing to a drop in Twitter’s value.
Twitter did not immediately respond to a Reuters’ emailed request for a comment.
Musk said in December that Twitter is on track to be “roughly cash flow break-even” in 2023 as top advertisers slashed their spending on the social-media platform after the billionaire’ s takeover. — Reuters
