After Elon Musk bought the social media platform X, formerly known as Twitter then, a number of advertisers left and stopped doing business with the platform.
The majority of businesses and brands left the social media platform citing that they don’t agree with the new owner on a number of fronts including his stands on freedom of speech.
As a result Musk brought in Linda Yaccarino on board as the new CEO of the social media platform, part of her mandate is to make sure the platform is profitable and start making money again.
Yaccarino believes the company will be profitable by early 2024.
“Now that I have immersed myself in the business, and we have a good set of eyes on what is predictable, what’s coming is that it looks like in early ’24, we will be turning a profit,” Yaccarino said onstage at the Code Conference.
“90% of the top 100 advertisers have returned to the platform in the last 12 weeks alone.”
Only time will tell, whether the former chairperson of Global Advertising at NBCUniversal can turn the fortunes of the social media platform around.
