A Elon Musk runs out of ideas to get money Chirping. As soon as he landed in the company last October, he fired half of the staff. The rest had to take on long working hours of up to 12 hours a day. Even the tycoon dispensed by the cleaning and security service. All these measures had one purpose: to increase the profits of the social network.
But that wasn’t enough to alleviate the loss of advertiserwhich was no less: 72 of its top 101 advertisers have departed in recent months, coinciding with the billionaire’s purchase of the company.
And on which the latest decision in the search for economic income has focused sell the furniture surplus from its offices: a neon light with the logo, coffee pots, tables, chairs and all kinds of furniture, according to the New York Times.
Twitter is auctioning off corporate assets surplus from its San Francisco office, as can be seen on the Heritage Global Partners website. “Twitter: Online Auction with Surplus Assets from Twitter Corporate Offices. Offer with kitchen equipment, electronics, furniture, souvenirs and more!” reads the ad.
The company has for sale all kinds of tables, partitions, chairs, a giant statue with the blue bird logo, rocking chairs, sofas, Marzocco brand coffee makers, all kinds of kitchen appliances, televisions, keyboards of computers and even a huge neon light of its emblem. In total, 631 lots for which users can bid these days.
Among customers, two products seem to be particularly interested: the neon light in the shape of the Twitter logo, which attracted a bid of more than $17,000; as well as the bird statue, which had an offer of $16,000.
The executive director of Heritage Global, the parent company of Heritage Global Partners, Ross Dove, head of the auction, explained that the auction is proving to be a great success. Until now, more than twenty thousand people registered to bid on any of the lots offered.
“Resources are really good because they’ve bought the best of the best, but I don’t think we would have had this crowd without the allure of Twitter,” he told the New York Times. One of the main attractions is the tweeter boss: “Everything Musk does gets attention”.
Dove estimates that the auction will bring Twitter about $1.5 million.
The bad economic situation of Twitter
The company closed the year with not very encouraging balance sheets. Companies such as Zoom, Wells Fargo, Pfizer, Volkswagen, Toyota, Nike or McDonald’s have suspended the purchase of advertising space on the social network. This represents a significant commercial setback for Twitter, which, through at least 2021, derived 88.7% of its revenue from advertising.
It doesn’t even finish booting the new Twitter Blue subscription powered by Elon Musk, a premium service that adds to blue check mark on your account and offers early access to select features, such as editing tweets. Its price is 8 dollars a month, but it seems that so far it hasn’t given the results expected by the tycoon.
Musk is looking for alternatives. For example, he will lift the ban on political ads. In 2019, then-CFO of Twitter Ned Segal provided some numbers: In 2018, political ads represented three million dollars during the legislative elections in that country. Another pinch to increase revenue.
Meanwhile, the tweeter boss cuts everything he can: social network staff, fewer employees for cleaning and surveillance and also had a setback with the non-payment of the rent of one of his offices. He’s also considering selling usernames. Now it’s time to put all the furniture up for sale.
With information from La Vanguardia.
SL
Source: Clarin
Linda Price is a tech expert at News Rebeat. With a deep understanding of the latest developments in the world of technology and a passion for innovation, Linda provides insightful and informative coverage of the cutting-edge advancements shaping our world.