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Technology Stocks : Twitter, Inc.

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From: kidl	3/26/2023 8:20:57 AM
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Elon Musk puts $20 billion value on Twitter, The Information reports Twitter logo and a photo of Elon Musk are displayed through magnifier in this illustration taken October 27, 2022. REUTERS/Dado Ruvic/Illustration/File Photo March 25 (Reuters) - 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. 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. 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. Reporting by Rahat Sandhu in Bengaluru

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