The social media site formerly known as Twitter is in talks with investors over raising cash that would value it at £35billion. The valuation is the same price Elon Musk paid for the platform – whose name he changed to X – in 2022. A successful fundraising at this level would suggest a turn in fortunes for the company, which has seen advertisers and users step away following a string of controversies under Musk’s ownership.
According to Bloomberg News, the talks over the financing round are ongoing and the details could change, and the amount of cash looking to be raised has not been confirmed. Since taking over X, Musk not only changed its name, he also dismissed most of the staff, rowed back on content moderation and allowed formerly banned accounts – including Donald Trump’s – back to the platform.
Overhaul: Since taking over X, Musk (pictured) changed its name, dismissed most of the staff, rowed back on moderation and allowed banned accounts back to the platform. Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.
