Twitter has lost nearly half of its advertising revenue through more than half of the website’s top advertisers began to pull their spending on the platform.
Elon Musk the owner of twitter made the revelation Saturday about recapitalization of the company. “we’re still negative cash flow due to 50% drop in advertising revenue plus heavy debt load,” said Elon Musk
He repeated on Sunday that while the company did not see the increase in advertising revenue last month of June as its was expected, they are hoping for this July.” July is a bit more promising,” he said
Since Elon musk took over the social media platform more than a half of the websites’s top advertisers began to pull their spending on twitter CNN’s data shows that Coca-Cola, jeep, wells Fargo, and Merck pulled their ads money by January.
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