Elon Musk set out to “cutting costs like crazy” to avoid insolvency. GIVEN RUVIC / REUTERS

An auction was organized on Wednesday while the boss of the social network, Elon Musk, is engaged in a frenzied cost hunt to avoid a cessation of payments.

A statue of Twitter’s blue bird was sold for $100,000 on Wednesday January 18 at an auction organized by the social networkElon Musk, which has multiplied measures to achieve savings since its acquisition of the platform at the end of October. In all, the sale featured 631 lots, from desks to coffee machines and decorative items, such as a two-meter-tall flowerpot in the shape of the “@” symbol. A huge light installation representing the blue bird went for $40,000, according to Heritage Global Partners, the company that organized the online sale.

At the beginning of November, a week after buying Twitter for 44 billion dollars, Elon Musk laid off half of the group’s 7,500 employees, explaining that the company was losing more than 4 million dollars a day. Advertising represents the bulk of the platform’s revenue, but the Tesla boss’s opinions and decisions on content moderation have scared off many advertisers.

$8 paid subscription

In December, the multi-billionaire said in an online chat that he had undertaken to “cutting costs like crazy” to avoid insolvency. He is counting on the savings made and the launch of a new paid subscription at $8 per month to get back into shape. “With the changes we’re making, massively cutting expenses and increasing revenue from subscriptions, I think Twitter will be fine next year.”, did he declare. According to its projections, the social network could achieve a turnover of around 3 billion dollars in 2023.

Elon Musk has been looking for someone to succeed him at the head of the San Francisco company for almost a month, after a poll showed that 57% of the approximately 17 million participating users declared themselves in favor of his departure.

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