(MENAFN- AzerNews) Twitter Inc CEO Elon Musk has offered the social-media company's
employees stock grants at a valuation of nearly $20 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 $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.
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