These Charts Show Why Twitter May Have Appealed to Elon Musk
Elon Musk is not your typical entrepreneur. Typically, when companies (or multi-billionaires) spend boatloads of money on acquisitions, they take their time reviewing internal documents and financial statements that aren’t available to the public—before making their offer to buy. But that’s not how Musk did it.
In the lead-up to his momentous $44 billion deal to buy Twitter, Musk, in the interest of speed, reportedly waived the opportunity to do a deep dive into Twitter’s finances. Granted, he says he’s purchasing the social media company not to make more money, but mainly to promote a set of lofty ideals related to freedom of speech.
Twitter is a powerful global platform with a steady growth rate in users. But the company’s financial performance has been fairly lackluster recently. It posted a net loss of $221.4million for the fiscal year 2021, after a loss of $1.14billion in 2020. Here’s a look at some of the facts and figures that likely convinced Musk (and his bankers) to pursue the deal anyway.
Twitter by the Numbers
Each day 500 Million TweetsGet sent; someone 70% of U.S. Tweeters are AmericanThey say that they receive news from the platform.
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