New reporting puts the social media company’s new life into context
Taking a company private can be a smart way to reform its operations outside the public-market limelight; no longer required to report quarterly to the world, companies that go private often have more latitude to make tough changes to their product mix and employee base.
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So, how is Twitter doing now that it is a private company, and a busy one at that? Per The New York Times, the social media company is enduring painful revenue declines compared to year-ago results. This new data echoes what we’ve heard concerning Twitter’s late-2022 results as well.
Elon Musk took Twitter private in late 2022, meaning that it has been a private company for some quarters now. Under new management, it has dramatically reduced its staffing, worked on expanding its subscription-revenue footprint, and taken a new tonal direction under its new owner. The company is also in the process of onboarding a new CEO, even if its owner intends to retain control over a broad swath of Twitter’s product work.
This morning I want to do a little historical sleuthing thr …