Friday, August 1, 2025

Latest

Linda Yaccarino to Meet with X’s Lenders, Says Platform Should Turn Profit by 2024

Linda Yaccarino, the CEO of X, the platform formerly known as Twitter, is set to meet with seven banks that provided financing for Elon Musk’s acquisition of the platform. Scheduled for October 5, the meeting is being closely watched by industry insiders who remain skeptical about X’s prospects for revival.

It will undoubtedly put the spotlight on Yaccarino’s strategy to breathe new life into X. However, it’s unclear how Yaccarino intends to win back advertisers, particularly given owner Elon Musk’s penchant for stirring up controversy on the platform. 

As one banker from the lenders remarked, “She has to get him out,” highlighting the challenge of attracting ad dollars in such a volatile environment.

X’s lenders have been saddled with approximately $13 billion of debt linked to Musk’s acquisition for nearly a year, resulting in substantial paper losses. 

A tense Yaccarino claimed in an interview at the Code Conference on Wednesday evening that the company’s finances are improving.

“From an operating cash flow perspective, we are just about break-even . . . It looks like in early 2024 we will be turning a profit,” she said.

While she seemed confident in her answers, speaking carefully and taking her time, she flubbed questions on the platform’s metrics and was unsure about the figures for the daily active users (which she later clarified was 245 million). 

She was also visibly uncomfortable as she tried to dodge the topic of the platform’s safety and moderation, especially since Yoel Roth, the platform’s former head of trust and safety, also appeared as a surprise guest at the conference just an hour before. 

Related: Two Safety Executives Leave Twitter Amid Content Moderation Concerns

She also dismissed questions about the plans for the platform’s business model, particularly about moving into an entirely subscription-based model, as well as the topic of Musk’s leadership and her relationship with him.

US revenues are reported to have plummeted by 60% since Musk took the helm, but one source familiar with the matter said in a Financial Times report that the platform is still able to cover its interest cost of $1.5 billion per year.

Related: Surprised? Twitter Blocks Links to Threads While Reports Say Traffic Is Down

Yaccarino remains optimistic. She also recently told the Financial Times that 90% of 2022’s top global spenders had returned, except she did not share crucial details about advertiser spending. 

Related: X (fka Twitter) Warns Brands They Would Lose Checkmarks If They Don’t Advertise

The FT shared that SensorTower data suggests that post-acquisition spending by advertisers may be significantly lower than before.


Information for this story was found via The Verge, the Financial Times, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Why Gold’s Bull Run May Just Be Getting Started! | Peter Grandich

Tariffs Spark New Race for Critical Metals | Rob McEwen

Antimony Resources: The Bald Hill Project

Recommended

Tsunami Warnings Spread As Largest Quake Since 2011 Hits Russia

Northern Superior Intersects 1.75 g/t Gold Over 65.0 Metres At Philibert

Related News

Elon Musk Becomes Subject Of SEC Inquiry On Twitter Acquisition

Elon Musk appears to have again become the target of the US Securities and Exchange...

Thursday, July 14, 2022, 08:47:20 AM

Tucker Carlson Wants to Raise Funds for a Subscription-Based Media Company Powered by Twitter

Former Fox News host Tucker Carlson, along with ex-White House adviser Neil Patel, are planning...

Friday, July 14, 2023, 04:11:00 PM

Musk-ception: SpaceX Places “Takeover” Ad Campaign On Twitter To Promote Starlink

But Elon Musk says it’s a “tiny” package just to test competition Twitter users are...

Monday, November 14, 2022, 10:31:55 AM

Foreign Investors In Elon Musk’s Twitter Buyout Can Potentially Access User Data

White House Mulls Legal Basis To Review The Deal While Elon Musk is busy making...

Wednesday, November 2, 2022, 03:05:00 PM

X Makes Its Premium+ Subscription Tier Fully Ad-Free Shortly After Suing Advertisers For Alleged Boycott

X on Thursday announced that Premium+ subscribers will now enjoy an ad-free environment across most...

Friday, August 9, 2024, 12:01:00 PM