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.
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.
The valuation is the same price Elon Musk paid for the platform – whose name he changed to X – in 2022.
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.
