Leaders at Elon Musk’s social media company, X, told employees this week that 65 percent of advertisers had returned to the platform since January, according to recordings of all-hands meetings obtained by The New York Times, and that smaller companies now made up the bulk of its revenue.
The executives, including Linda Yaccarino, who was appointed to run the company a year ago, admitted that the company continued to face challenges as it rebuilt its beleaguered advertising business.
Some investors at Tesla, which accounts for the bulk of Mr. Musk’s wealth, have expressed concern he has been distracted by X.
Since Mr. Musk took over the social media company, the billionaire has cut 75 percent of staff, restored hundreds of banned accounts and remade the platform to allow most speech, without consequences.
In November, he told advertisers not to spend on X, dismissing them using an expletive during an interview at The Times’s DealBook conference.
Persons:
Linda Yaccarino, Musk, X
Organizations:
Elon, The New York Times, Tesla