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The new valuation means xAI has surpassed the $44 billion Musk paid for Twitter in October 2022. X was valued at $9.4 billion by Fidelity, one of its investors, in September.
The ad-free tier comes as Twitter/X has been attempting to rebuild its advertising model. Major brands have been pulling their advertising regularly since Musk’s takeover of the site.
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Twitter Zero is an initiative undertaken by X in collaboration with mobile phone-based Internet providers, whereby the providers waive data (bandwidth) charges—so-called "zero-rate"—for accessing X on phones when using a stripped-down text-only version of the website.
X Is Now Worth $19 Billion, Down 57% From $44 Billion When Elon Musk Bought Twitter. ... One Year After Elon Musk Bought Twitter, X Monthly Users Are Down 15% and Ad Revenue Has Slumped 54%.
Elon Musk completed his acquisition of Twitter in October 2022; Musk acted as CEO of Twitter until June 2023 when he was succeeded by Linda Yaccarino.In a move that, despite Yaccarino's accession, was widely attributed to Musk, [1] [2] Twitter was rebranded to X on July 23, 2023, [3] and its domain name changed from twitter.com to x.com on May 17, 2024.
The number of active users has declined on the app since Mr Musk took over in October 2022 (renaming it from Twitter shortly after). From a peak of 368 million active users that year, X’s growth ...
In a pitch deck presented to investors, Musk proposed reducing Twitter’s (as it was known then) advertising business from 90% of its revenue to just 45% by 2028.