There has been a report that more than 500 advertisers have stopped spending their money on Twitter, according to the report. In response to a question from Reuters, the company did not respond immediately to a request for comment.
Platformer, the technology newsletter published by the company, first noticed on Tuesday that the company’s revenue had dramatically declined.
As a result of Elon Musk’s takeover of Twitter last October, advertisers have gradually left the platform in response to the billionaire firing thousands of employees. According to the company, Twitter has lost 40% of its revenue compared to last year as a result of hundreds of advertisers quitting the company. A report on Wednesday claiming to have insider knowledge of the matter was published by The Information.
Usually within a week of receiving the request. Several of these employees were later recalled back to Twitter after it became apparent that they would be needed to run the company in the future.
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A new verification method was also implemented by the platform at the last minute, which resulted in scammers impersonating companies and causing millions of dollars in losses to the platform. As a result of this method, Twitter users had to pay only $8 for verification, allowing almost anyone to impersonate someone or something notable.
Despite the controversy surrounding this version of Twitter Blue, it was quickly retracted from the platform, and it was later returned with much-needed updates. As of now, you can still pay $8 for verification, but the accounts in question are now manually verified by Twitter moderators through manual checks.
Twitter recently removed its ban on political ads for 2019 and announced that it would relax its advertising policy for “cause-related ads” in the United States as a result. It would also allow the company to align its TV ads with those from other media outlets as well.
