If Twitter Inc’s ownership changes, funding for the BlueSky effort will need to be reevaluated, Jack Dorsey, the company’s creator, said in a tweet.
“Twitter doesn’t own it,” Dorsey replied in response to the Bluesky comment. “The funding will need to be evaluated,” he says. In early trading, Twitter shares jumped 3.6 percent to $47.49. Shares of the social networking platform, which was valued at $37 billion before Musk’s bid, fell nearly a third in value over the past year.