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The initially proposed $13 billion in money borrowed by Twitter was equivalent to seven times the company's 2022 projected operating cash flow; some banks found that multiple too risky and opted to participate only in the $12.5 billion margin loan to Musk. [32]
Musk's money manager wrote to investors that in recent weeks the family office had received "numerous inbound requests to invest in Twitter." [ 102 ] [ 103 ] The Wall Street Journal reported in January 2023 that talks had been held to raise up to $3 billion to pay down some of the $13 billion in bank debt incurred in the deal, which includes a ...
Twitter, officially known as X since 2023, is a social networking service.It is one of the world's largest social media platforms and one of the most-visited websites. [4] [5] Users can share short text messages, images, and videos in short posts commonly known as "tweets" (officially "posts") and like other users' content. [6]
Elon Musk said the verification process is being "revamped," amid reports the company plans to charge for verified status.
Before we understand the importance of debt, let us look at how much debt Twitter has.Twitter's Debt Based on Twitter's balance sheet as of October 30, 2020, long-term debt is at $2.55 billion and ...
Twitter did not immediately respond to Reuters request for a comment. In early November, Twitter laid off about 3,700 employees in a cost-cutting measure by Musk, who acquired the company for $44 ...
On July 23, 2023, Musk announced X's launch, which would replace Twitter, which started when the X.com domain (formerly associated with PayPal) began redirecting to Twitter; [3] the logo was changed from the bird to the X the next day, [34] and the platform's official main and associated accounts also began using the letter X within their handles. [35]
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