Twitter employees were offered stock grants at a valuation of about $20B, less than half of the $44B price Elon Musk paid for the social media company late last year.
In a memo to Twitter employees, Musk said he was optimistic about Twitter’s future, noting he sees a clear but difficult path to getting the company to a $250B+ valuation.
Musk referred to Twitter as an inverse startup, given the company’s rate of implementing changes.
- Last week, Twitter said it would wind down its legacy verified program and remove legacy verified checkmarks starting April 1.
- Twitter currently offers a verification service through its Twitter Blue subscription plan.
- Users who sign up through the web pay $8 a month, while those who sign up via iOS or Android pay $11 per month.
Part of Twitter’s source code was leaked on GitHub last week.
- The social media company sent a copyright infringement notice to GitHub on Friday, which complied and took down the code.
- In a recent filing, Twitter asked the U.S. District Court for the Northern District of California to order GitHub to identify the person who posted the code and any individuals who downloaded it.
- According to sources, there are concerns the leaked information had security vulnerabilities that could give hackers the means to extract user data or take down the site.
