X Says It Is Worth $19 Billion, Down From $44 Billion Last Year
www.nytimes.com
The social media company’s valuation was disclosed in the paperwork for stock grants that it handed to employees on Monday.

X says it is worth $19 billion, down from $44 billion last year::The social media company’s valuation was disclosed in the paperwork for stock grants that it handed to employees on Monday.

    • 1847953620@lemmy.worldEnglish
      3·
      1 year ago

      love it when he said “it’s businessin’ time!”

      and then he businessed all over the place

    • RamSwamson@lemmy.sdf.orgEnglish
      21·
      1 year ago

      All the comments under you says there’s a meme attached to your comment but I don’t see it no meme

      • photonic_sorcerer@lemmy.dbzer0.comEnglish
        4·
        1 year ago

        When I said “one of the businessmen of all time” that sentence is a play on “one of the best businessmen of all time”. The above phrase is a meme. Memes are not limited to funny pictures.

  • d3Xt3r@lemmy.nzEnglish
    63·
    1 year ago

    $19bil is still way too overestimated. I’d laugh at anyone who pay this much if Musk ever decided to sell.

  • Gazumi@lemmy.worldEnglish
    161·
    1 year ago

    Musk fanboys are so very excited. They are waiting for his last minute genius move to explain his super smart strategy. I’m not holding my breath

    • db2English
      1·
      1 year ago

      19 cents. Not per share, total.

  • AutoTL;DR@lemmings.worldBEnglish
    6·
    1 year ago

    This is the best summary I could come up with:

    X, the company formerly known as Twitter, handed out stock grants to employees on Monday that showed it was worth about $19 billion, down about 55 percent from the $44 billion that Elon Musk paid to buy the firm a year ago, according to internal documents seen by The New York Times.

    In March, he wrote in an email to workers that he believed the company was worth $20 billion, calling it “an inverse start-up.”

    Employees will still be paid in cash in the amount of $54.20 for any outstanding shares that were granted to them under previous management, the company said.

    In his year of owning Twitter, Mr. Musk has overhauled the company and the social media platform.

    Advertising, the company’s main source of revenue, was down in the United States by almost 60 percent this summer.

    Last week, in a company meeting celebrating the first anniversary of the deal, he laid out how he believed X could serve as an all-purpose app with an array of features, including dating services and job recruiting, according to a recording obtained by The Times.

    The original article contains 456 words, the summary contains 183 words. Saved 60%. I’m a bot and I’m open source!