What ACTUALLY Happened With Twitter – Why Elon Musk Buys Twitter

Hashtags, retweets, and mentions are the terms we use today that first came from Twitter. Which is currently Facebook’s biggest competitor. Today we will explore what actually happened with Twitter and the current situation. Let’s know the basic history of Twitter shortly.

The origin of Twitter.

Twitter was founded in 2006. When a young guy Jack Dorsey of new york university was thinking of a new online communication platform idea. He was working with a podcasting company called Odeo and shared with his colleague.

The idea was very simple. Anyone can share short message now that is called posts. Also have direct messaging seystem (DM). At first, it was called “Twttr” and it was used only by Odeo company employees.

When did Twitter become popular?

On July 15, 2006, Twitter was opened to everyone. In the first month, there were about 20,000 tweets per day. In 2007, the number of tweets per day stood at 60,000. Twitter became popular in the social media world and a hot topic during the Southwest Interactive Conference. It started with 3,000,000 tweets in 2008 and reached 50 million in 2010.

How many Twitter users and popularity?

Twitter’s active user is 450 million. Now Twitter is the 7th most popular social media platform in the world.

How Twitter makes money?

In 2021, Twitter generated $5 billion in revenue. And the revenue till the second quarter of 2022 was $1.1 billion. Twitter earns in 2 ways. One is advertising and another is data licensing. In 2021, Twitter generated $4.5 billion in revenue from advertising and $571 million from data licensing.

Twitter’s actual financial performance 2022-2023

Despite its popularity, Twitter spends $167 million dollars on its advertising and marketing. Which was $1 million in the previous year 2020. Despite all this, Twitter was at a net loss from 2010 to 2017. In 2018 and 2019 alone, the company made a profit of $1.2 billion and $1.4 billion respectively.

Net profit and revenue are two different things. For example, you are selling 1 T-shirt for $100 dollar. $50 dollar including the other costs of making your t-shirt and your profit is $50. $100 dollar is your net revenue and $50 dollar is your net profit.

Again from 2020 till now the profit is negative due to various reasons including covid 19.

How Elon Musk bought twitter?

Twitter is currently owned by Elon Musk. Who bought the biggest tech company deal in history for $44 billion a few days ago. The story of Elon Musk buying Twitter is very interesting. On December 21, 2017, Elon Musk tweeted “I love Twitter”. Then a gentleman named Dave Smith retweeted him suggesting to buy Twitter. Elon Musk asks what is the price.

Why Twitter is the most powerful social media?

Elon Musk is also the boss of Tesla and SpaceX. Twitter is used more by celebrities and politicians. Many powerful and influential people live here. For that, you will see the news media about Joe Biden’s tweets, Donald Trump’s tweets, etc. Donald Trump was banned from Twitter due to his overly liberal tweets.

Why did Elon Musk buy full Twitter?

On January 31, 2022, Musk first started buying shares of Twitter. On April 4, he bought the 9.2% stake in Twitter for $2.64 billion dollar and became the company’s largest stakeholder. But the limitation for him was that he could not openly discuss Twitter in board meetings.

Elon Musk is an independent crazy man who on April 14 offered to buy Twitter for $44 billion dollar. This amount was determined based on the price of each share of $54.20 dollar.

How Elon Musk financed $44 billion to buy Twitter?

Elon Musk raises money in two ways. He raised $20 billion in cash by selling some shares in Tesla and borrowing the rest from banks.

Resources: Power of Branding – Why do people buy branded products?

Twitter’s current situation by Elon Musk

Twitter is currently in dire straits. With the purchase of Twitter, the CEO and several other chiefs were laid off. Those who were working from home due to covid are forced to come to the office. In addition, the workers started to lay off. Elon Musk laid off 50% of his 7,500 employees.

Apart from this, there is a lot of criticism about the fact that the verified blue batch should be taken at $8 dollars. Because now anyone can get a verified batch with money. Video content monetization like youtube is also being talked about.

Musk wants to make Twitter a free speech platform. That is why Donald Trump’s account is also likely to be returned. Besides, making the platform premium means that the users will get fewer facilities for free and the situation is a mess with them.

The workers have started giving resignation letters in groups. Twitter was shut down for three days. Elon Musk has also said that Twitter may go bankrupt. In fact, Musk is trying to run Twitter like his growing companies SpaceX and Tesla. But it remains to be seen how much these theories will work for Twitter, a well-established company. Let’s see if Twitter can fire again in a new way.

Twitter’s interesting facts

  • Tell me who has the most followers on Twitter? Former US President Barack Obama 133 million. It is followed by Twitter boss Elon Musk with 123 million.
  • An average person spends 10 minutes a day on Twitter and 35 minutes on Facebook.
  • Do you know using Facebook and Twitter? A few days ago, when all the services of Facebook were closed due to a problem on Facebook’s server. This news was first shared on Facebook by tweeting to everyone.
  • Twitter is the 550th most valuable company in the world.
  • The most used emoji on Twitter is “Tears with Joy”😂. Which was used 2 billion times in 2019 alone.
  • Twitter has 6000 tweets per second, 350,000 tweets per minute, 500 million tweets per day, and 200 billion tweets per year.
  • A maximum of 1000 people can be messaged from one account in a day.
  • You can tweet a maximum of 2400 times in a day.
  • With one account you can follow a maximum of 5000 people lifetime.

Note: We took some statistics from Wikipedia, Britannica, Penningtoncreative and some other resources.

Let us know in the comments how you feel about using Twitter and what you think about the verified batch at $8.

Seraphinite AcceleratorOptimized by Seraphinite Accelerator
Turns on site high speed to be attractive for people and search engines.