Skip to main content

Featured Post

AMD to invest $400 million in India by 2028: Here’s what we know

US chipmaker Advanced Micro Devices said on Friday it will invest around $400 million in India over the next five years and will build its largest design center in the tech hub of Bengaluru. AMD’s announcement was made by its Chief Technology Officer Mark Papermaster at an annual semiconductor conference that started Friday in Prime Minister Narendra Modi’s home state of Gujarat. Other speakers at the flagship event include Foxconn Chairman Young Liu and Micron CEO Sanjay Mehrotra. Despite being a late entrant, the Modi government has been courting investments into India’s nascent chip sector to establish its credentials as a chipmaking hub. AMD said it will open its new design centre campus in Bengaluru by end of this year and create 3,000 new engineering roles within five years. “Our India teams will continue to play a pivotal role in delivering the high-performance and adaptive solutions that support AMD customers worldwide,” Papermaster said. The new 500,000-square-foot (55,5...
1 comment
Read more
Labels

Into Elon Musk’s plans for Twitter: Quadrupling users, doubling revenue, hiring more employees

Tesla CEO Elon Musk has been creating a buzz ever since he announced that he was buying Twitter for a whopping $44 billion. Since then, he has suggested a number of key measures for improving the platform and increasing its revenue in the coming days. The list includes introducing ‘slight cost’ for government and commercial users, introducing end-to-end encryption in Twitter direct messages (DMs) and introducing an edit button among other things. Now, word is that Musk has a shared a more detailed plan on how he plans to improve things at Twitter once he takes over.

In a pitch deck for the investors obtained by The New York Times Musk has said that he plans to grow Twitter’s monthly users from 217 million that it had at the end of 2021 to around 600 million in 2025 to 931 million by the end of 2028. This means that Musk wants to quadruple Twitter’s user base in coming six years. In addition to this, Musk also plans to hire around 3,600 new employees by 2025, which would take the company’s existing headcount from around 7,500 employees to around 11,072 employees.

As far as the revenue is concerned, the Tesla CEO said that he believes that the micro-blogging platform can quintuple its annual revenue from approximately $5 billion the company made in 2021 to $26.4 billion by 2028. To make this happen, Musk wants to diversify its sources. For starters, it wants the social media platform to bring $15 million in revenue from a payments business in 2023, which he wants to grow to around $1.3 billion by 2028. In addition to that, he wants Twitter to reduce its dependence on revenue from ads. At the moment, advertising accounts for almost 90 percent of the company’s revenue. Going forward, Musk wants to cut this to about 45 percent by 2028. By 2028, he wants advertising to bring in around $12 billion in revenue and subscription revenue to stand around $10 billion.

To make this happen, Twitter would need a lot more paying customers that it has today. Musk has forecasted Twitter Blue users to stand at around 69 million by 2025 and 159 million by 2028.

Interestingly, the SpaceX founder also wants paid subscribers for a mysterious new service called ‘X’ be around 104 million. While Musk didn’t share the details of this service, he did say that the service would provide an ad-free experience to Twitter users.

The post Into Elon Musk’s plans for Twitter: Quadrupling users, doubling revenue, hiring more employees appeared first on BGR India.



from BGR India https://ift.tt/b6WLQaA
via IFTTT
Email Post
Labels:

Comments

Post a Comment

add