Written By Md Waquar Haider
Elon Musk puts Twitters value at just $20 billion
Elon Musk has offered the social-media company's employees stock grants at a valuation of nearly $20 billion.
Published By: Md Waquar Haider | Published: Mar 27, 2023, 10:18 AM (IST)
Twitter may give $1,000 checkmark free to 10K most-followed firms
Highlights
- Musk has offered the social-media company's employees stock grants.
- The reported valuation is less than half of the $44 billion.
- Some parts of Twitter Inc’s source code have been leaked.
Twitter Inc CEO Elon Musk has offered the social-media company’s employees stock grants at a valuation of nearly $20 billion, the Information reported on Saturday, citing a person familiar with an email Musk sent to Twitter staff. 
Also Read: Elon Musk Reveals Big Gaming Plans: xAI To Launch ‘AI-Generated Game’ By 2026
The reported valuation is less than half of the $44 billion that Musk paid to acquire the social media platform, pointing to a drop in Twitter’s value. Also Read: Why Thousands Are Cancelling Netflix After Elon Musk’s Latest Tweet
Twitter did not immediately respond to a Reuters’ emailed request for a comment. Musk said in December that Twitter is on track to be “roughly cash flow break-even” in 2023 as top advertisers slashed their spending on the social-media platform after the billionaire’ s takeover. Also Read: Elon Musk’s xAI Fires 500 Employees? Report Suggests Major Layoffs
Meanwhile, some parts of Twitter Inc’s source code have been leaked and the social media platform owned by billionaire Elon Musk is seeking information on the person responsible, a legal filing showed.
According to the filing, “various excerpts” of Twitter’s source code, which is used to run the company online, were posted on GitHub, a Microsoft-owned platform for sharing code for software development, by a user named ‘FreeSpeechEnthusiast’.
Github said it took down the code on Friday at Twitter’s request.
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Twitter has asked the US District Court for the Northern District of California to order GitHub to produce “All identifying information” associated with the ‘FreeSpeechEnthusiast’ username, the March 24 filing showed.
