In order to put Musk’s valuation into perspective, Twitter would be worth more at $20 billion than Snap, the company that created Snapchat and has roughly 140 million more daily active users. It’s also important to note that the estimate probably accurately captures the challenges Twitter has encountered as a direct result of Musk’s actions. More than 500 of the company’s largest advertising partners reportedly stopped spending on the platform at the beginning of 2023, resulting in a 40 percent decline in daily revenue for the company. Following the company’s disastrous launching of Twitter Blue, which saw verified trolls exploit the service to pose as well-known brands, many of those businesses quit. According to The Information’s most recent reporting, there were just 180,000 Twitter Blue customers in the US at the beginning of February, indicating that the service is in no way close to making up for the financial decline that Twitter has seen since Musk took control of the company.
