Linda Yaccarino, CEO of the platform now known as X (previously Twitter), expressed confidence in the company nearing its “break-even” point during her debut broadcast interview as the head of the company, Tech Crunch reports.
This optimistic outlook raised eyebrows, especially given X’s financial turbulence post its acquisition by mogul Elon Musk, which saw a notable dip in ad revenue due to diminished brand engagements.
Desperate to boost cash flow, X implemented controversial measures such as restricting user rates for non-Twitter Blue subscribers and imposing hefty fees on developers for API access.
However, Yaccarino’s statements hint at a financial resurgence for X, a noteworthy revelation considering the company’s drastic staff downsizing from approximately 8,000 to a mere 1,500. Yet, the company still owes a three-month severance package to those affected by these layoffs.
Furthermore, unsettled rent dues for its global offices have also embroiled X in multiple legal battles.
Yaccarino highlighted X’s strategy, “Our data licensing and API with X is thriving. Our budding subscription model is expanding, and my mission here is to amplify advertising revenue.”
She also shed light on her ongoing positive discussions with potential advertisers and the company’s adoption of AI-driven advertising technology. This initiative enables brands to select their preferred content alignment for their ads. In line with Musk’s earlier statements, unconventional product placements will be offered at discounted rates.
, projects financial stability for the company. With new strategies in play, can X overcome its past financial hurdles and legal battles?){kind=link}