28.2 C
Bangkok

Elon Musk Wants to Launch a New Twitter Product Called ‘X’ with 104M Subscribers by 2028

Must read

  • A copy of Elon Musk’s Twitter pitch deck that he presented to investors has been obtained by The New York Times.
  • As part of Musk’s plan for the social media network, the company will build a new product called “X” that will be launched in 2023.
  • It has previously been noted that Musk has floated ideas like the possibility of adding an edit button and an ad-free version of Twitter.

According to an investor presentation obtained by The New York Times, Elon Musk has ambitious plans for Twitter, including the creation of a mysterious new product, known as “X.”

Related Article: Elon Musk Becomes Twitter Owner After $44 Billion Bid

As per the pitch deck, the product “X” would probably launch in 2023, which gives it a market share of 9 million users after the first year. 104 million people are expected to subscribe to Musk’s product by 2028, according to an article in The New York Times.

According to UPI, it is one of several ideas outlined in the billionaire’s grand plan to quadruple Twitter’s revenue and quadruple its user base in spite of his previous statements that he does not care about the economics of the acquisition at all.

The Tesla CEO did not provide any further details about this secretive feature, but he did reveal a handful of changes he will make to the social media app if the $44 billion purchase would be approved. Aside from the edit button, there will also be a version of Twitter that does not display advertisements.

Related Article: Elon Musk Secured $46.5 Bn In Funding For Twitter Bid

According to the New York Times, Musk also described in the pitch deck a “payments business” that should generate $15 million in revenue by 2023, according to the report. Besides having experience in digital payments, Musk and Jack Dorsey are also members of the Twitter board of directors – Musk is one of the original co-founders of PayPal, and Dorsey is the CEO of Square (now known as Block).

In response to Insider’s request for comment on product “X” and what it might entail, Musk has declined to comment. Tesla CEO Elon Musk said in an April press release he hoped to improve Twitter by “enhancing the product with new features, making the algorithms open source to help increase trust, defeating spam bots and becoming a human authentication system.”.

In a unanimous decision, Twitter’s board of directors accepted Musk’s offer on April 25 to buy out the company for $54.20 per share. According to Twitter, the deal is expected to close in 2022, assuming that Twitter stockholders approve the transaction, as well as receive any regulatory approvals and satisfy any other customary closing conditions, the company said in a statement.

More News

learn spanish online

Latest News