Elon Musk has big plans for Twitter once he has it within his fold. And the first move will be the numbers. From 229 million, modest by social media standards, he plans to cross 600 million by 2025 and then onto 932 million in another 3 years.
Even as he comes nearer to securing a controlling state and becoming its CEO, Musk, in a fresh filing with the US Securities and Exchange Commission, divulged that he has already secured $7B in extra funding commitments that solidify his takeover bid of Twitter for $44B.
This move has brought in some big names that include Binance, Larry Ellison of Oracle, Sequoia Capital, and Prince Alwaleed of Saudi Arabia. These contributors are minority shareholders at present and would have not a say in the day-to-day workings of Twitter. And once the transaction goes through, he is expected to buy out these initial investors.
These investors have put in their money expecting considerable appreciation and it appears that Elon Musk has some solid plans for Twitter once the deal is in place.
The New York Times obtained a presentation to help potential investors learn more about the business model that Musk has proposed for Twitter. The main points proposed for the growth of Twitter include plans to aggressively expand the user base.
Twitter: Along With Increase In User Base, Musk Also Has Plans For A 5 Time Increase In Revenue In 5 Years
A roadmap has also been outlined that proposes a five-time increase in revenues by 2028, from $5B last year to a whopping $26.5B.
The advertising revenues will be down to 45% of total proceeds, from the present 90%. Musk also plans to reduce staff by 1,000 by 2023, while adding 2,700 by 2025.
There is no clear indication of how the founder of Space X plans to increase the user base at the proposed rate. But it is all ears at present that other it is apparent that Musk has the faith of the big-ticket investors who have invested in Twitter.
It remains to be seen what Musk pulls out of the bag to bring in revenues and subscribers as promised to his version of Twitter.
