Yaccarino, Linda – Page 2

X Says It Is Worth $19 Billion, Down From $44 Billion Last Year

The social media company’s valuation was disclosed in the paperwork for stock grants that it handed to employees on Monday.

Rebranding the social network as X marks the billionaire’s latest gamble to reinvent the company, after buying it last year for $44 billion.

The technology giant’s new social network, Threads, pulled in more than 10 million sign-ups within hours of making its debut.

Linda Yaccarino, who initially could not take ad sales meetings because of a noncompete clause, is adjusting to her new role reporting to Elon Musk.

In internal forecasts, the company projected that ad sales would keep declining, handing a tough challenge to its new chief executive.