Elon Musk says Twitter is 'trending to breakeven,' last three months were 'extremely tough'
Musk said Twitter was losing $4 million a day when he purchased the social media platform in October
Elon Musk said on Sunday that the past three months have been "extremely tough" as he "had to save Twitter from bankruptcy" while also running Tesla and SpaceX.
"Wouldn’t wish that pain on anyone," Musk tweeted. "Twitter still has challenges, but is now trending to breakeven if we keep at it. Public support is much appreciated!"
Just one week after Musk closed the $44 billion deal to purchase Twitter in late October, he was already lamenting the company's "massive drop in revenue," which he attributed to "activist groups pressuring advertisers."
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Since then, he's made a number of controversial changes on the platform, including cutting about half of Twitter's staff, rolling out a revamped Twitter Blue subscription service, and even auctioning off memorabilia from the company's San Francisco headquarters.
Musk, who is still CEO at SpaceX and Tesla, defended the Twitter layoffs in November by saying that the company was losing $4 million a day.
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Most recently, Twitter said it will start charging a fee to access its API, which developers use to create third-party services.