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Musk Offers Twitter Employees Stock Grants At Valuation $20 Bn: Report
The reported valuation is less than half of the USD 44 billion that Musk paid to acquire the social media platform, pointing to a drop in Twitter's value
Twitter Inc CEO Elon Musk has offered the social-media company's employees stock grants at a valuation of nearly USD 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 USD 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.
