Last Updated: January 31, 2023, 08:37 IST
New boss Elon Musk is pushing Twitter to create new streams of income.
Twitter Inc is working to introduce funds on the social media platform and has begun making use of for regulatory licenses, the Financial Times reported on Monday, citing folks conversant in the matter.
(Reuters) – Twitter Inc is working to introduce funds on the social media platform and has begun making use of for regulatory licenses, the Financial Times reported on Monday, citing folks conversant in the matter.
New boss Elon Musk is pushing Twitter to create new streams of income because it faces a drop in promoting revenue, following his $44-billion takeover of the corporate in October.
The improvement on the funds characteristic is being led Esther Crawford, a director of product administration at Twitter, in keeping with the report, which added that the manager was rising to be a key lieutenant to Musk.
Twitter didn’t instantly reply to a Reuters request for remark.
Musk had beforehand mentioned that the Twitter acquisition can be a part of a grasp plan to create ”the every thing app”, a service that will supply social networking, peer-to-peer funds and e-commerce procuring.
Prior to Musk’s takeover, Twitter in early 2021 was exploring permitting its customers to obtain suggestions, or digital funds, from their followers.
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(This story has been edited by News18 workers and is printed from a syndicated news company feed)
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