Valuation of Elon Musk-owned Twitter drops below 50%, company filing reveals

image : Twitter

Twitter was bought by Elon Musk. The deal was discussed all over the world as the deal was done for 44 billion dollars. There were many reports of its cancellation. Finally the deal was done. But now there is a shocking report about Twitter's current valuation. According to the information, the valuation of Twitter under the ownership of Elon Musk has remained only less than 50 percent, i.e. around 20 billion dollars.

How was this information disclosed?

According to the information, an internal mail was sent by Elon Musk to the employees. In which this information is being claimed to have come out. The report comes at a time when Elon Musk is making several attempts to turn Twitter into a profitable company.

Now the valuation of Twitter has reached close to these companies

According to a report, the current valuation of Twitter from Musk has been estimated at 20 billion dollars. However, that is less than half of the $44 billion they paid for the acquisition of the social media platform about five months ago. It should be noted that this mail was sent to employees for the new store compensation program. The compensation plan has estimated the value of Twitter at 20 billion dollars. Which is very close to other social media platforms Snapchat's valuation of 18.2 billion dollars and Pinterest's valuation of 18.7 billion dollars.

Musk said the company is going through tough times

Musk has explained the reason for the decline in Twitter's value in an internal mail. He said the company was going through tough times. The company is facing several financial problems. There was a time when the company was about to go bankrupt. Along with this, he said that the revenue has decreased by 1.5 billion dollars in a year and the company is going under debt. The company has recently reduced the number of employees from 7500 to 2000.