Ever since Tesla boss Elon Musk bought Twitter, the world has been wondering what to do with the Blue Bird. Finally Elon's plan is revealed.
Reporting from News.com Australia, Saturday (7/5/2022) the plans of the world's richest people to Twitter were opened in front of investors. After buying Twitter for USD 44 billion, Elon conveyed his business plan related to Twitter.
Elon in front of investors said he wanted to increase Twitter's annual revenue from USD 5 billion, to USD 26.4 billion in 2028. The New York Times reported Elon also wanted to increase the number of users from 217 million at the end of 2021 to 600 million in 2025 and 931 million in 2028.
Interestingly, there is a mysterious new product revealed. This Twitter product is called X and has a target of 104 million users by 2028. What kind of product is X? What is the impact on Twitter? It has not been clearly disclosed.
Elon Musk wants the average income of each user to be USD 30.22 in 2028, from the previous USD 24.83 in 2021. Elon will also unload employees, some will be fired and recruited. The ultimate goal is to have 11,072 employees by 2025.
Currently Twitter has 7,500 employees. There will be 1,725 new employees in 2022, but 893 employees will be laid off in 2023, before there are any more job openings. The New York Times said Elon wanted to cut some of the old people out and add a lot of new talent to engineering.
Meanwhile Twitter Blue, a custom subscription service for Twitter users, is expected to reach 159 million users in the next 6 years. Twitter Blue just launched in 2021.
Twitter is also eyeing the payments business with a target of USD 15 million in 2023 and USD 1.3 billion in 2028. However, details are not yet known. Twitter will also reduce its dependence on advertising revenue by up to 50 percent.
