The company formerly known as Twitter was valued at $44 billion in a recent secondary financing round in which investors exchanged existing shares in X, the Financial Times reported on Tuesday, citing sources with knowledge of the matter.
A separate report by Bloomberg said X raised nearly $1 billion in new equity from investors – with Musk himself participating in the financing round.
The deal reportedly valued X at approximately $32 billion, alongside roughly $12.5 billion in debt.
X representatives did not immediately return The Post’s request for comment.
The valuation points to a major turnaround for Musk and his handpicked CEO Linda Yaccarino, who have set about remaking X as an “everything app” with loosened content moderation standards and plans for an onsite payment platform.
Source: https://nypost.com
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