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The company has been in the news ever since the world’s richest businessman and Tesla CEO Elon Musk bought Twitter. Now it has come to the fore to expel two of its senior officers and put a stop to new recruitments. Twitter confirmed this on Thursday.
According to reports, Twitter’s general manager Kyvan Becpour, who leads research, design and engineering, and Bruce Falk, head of revenue, are leaving the company. Both gave information about this by tweeting.
Baccour said he was fired from the San Francisco-based tech company. The truth is that the decision to leave Twitter is not his. He was asked to leave after CEO Parag Agarwal told him that he wanted to take the team in a different direction. He thanked Twitter co-founder Jack Dorsey for his support. Bekpore was associated with the company for the last 7 years.
At the same time, Falk also tweeted and thanked all the colleagues. He wrote that I thank all the team and partners with whom I have worked for the last 5 years. According to the information, after the departure of both, Jay Sullivan will serve as Product Head and Interim Head of Revenue.
Ban on new recruitment in the company
According to the report, the CEO of Twitter announced in an official email that both the executives would be leaving the company and stopping most of the hiring at the company. Agarwal has given the reason behind the departure of both of them for failing to achieve the target.
Twitter bought for $ 44 billion
Musk recently bought this micro-blogging site for $ 44 billion, or Rs 3,368 billion, and he wants to increase Twitter’s revenue to $26.4 billion by 2028, from $5 billion last year. He said this in a presentation given to investors on 6 May. There is a plan to take Twitter on subscription mode to increase revenue.
$30.22 revenue per user
Elon Musk estimates that he can increase Twitter’s average revenue per user to $ 30.22 by 2028, from $24.83 last year. Last year, Twitter launched the premium subscription service Twitter Blue, and Elon Musk expects Twitter to have 69 million users by 2025.
Musk wants to reduce dependence on advertising
Elon Musk wants to make Twitter independent of advertising, that is, the share of advertising in Twitter’s total revenue will fall to 45%. Which will fall by 90% by 2028 as compared to the year 2020. According to the plan, in 2028, Musk will get $12 billion in revenue from advertising and $10 billion from user subscriptions.
Focus on increasing cash-flow
According to a New York Times report, Musk aims to grow Twitter’s cash-flow to $3.2 billion by 2025 and $9.4 billion in 2028.
How big is Twitter now?
Twitter is a real-time microblogging platform, launched in July 2006. It was founded by Jack Dorsey, Noah Glass, Evan Williams and Biz Stone. Initially tweets of only 140 characters could be made, however in 2017 this was doubled to 280. Twitter has 217 million active users in the world. It has 77 million users in the US and 24 million in India. Around 500 million tweets are made every day around the world. Twitter may be a loss making company, but its indirect value is very high.
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