Yaccarino says the company is on the verge of breaking even after undergoing a massive churn in the last few months
X Corp's CEO, Linda Yaccarino, revealed in an interview that the company is on the brink of achieving a significant milestone – breaking even – following a period of substantial upheaval.
The company, formerly known as Twitter, has undergone a series of transformations over the last few months, marked by major layoffs and platform overhauls.
Yaccarino, who took the helm as CEO just eight weeks ago, conveyed her optimism about the company's financial performance. "Our operational run rate right now… we’re pretty close to break even," she stated, highlighting the progress X Corp has made in stabilising its financials.
One of the driving forces behind the company's turnaround is its robust data licensing and API business. Additionally, the introduction of a new subscription model has been met with success, contributing to the company's positive trajectory.
A key revelation from Yaccarino's interview is the impending launch of video call functionality on the platform. X Corp is actively working to evolve into an "everything app," akin to China's WeChat, which offers a wide array of services beyond its core function. This strategic move is aimed at expanding the platform's utility and user engagement.
Under the leadership of Yaccarino, X Corp appears to be embracing a new direction, with her stressing her autonomy as CEO while Elon Musk, the company's owner, focuses on technological advancements. "I am responsible for the rest," she asserted, signaling her commitment to driving the company forward.
Addressing the ongoing competition and innovation in the social media landscape, Yaccarino touched upon Meta's Threads – a platform potentially reminiscent of Twitter's past – while affirming X Corp's emphasis on shaping its unique identity and future.
Among the upcoming features Yaccarino mentioned are long-form videos, creator subscriptions, and even digital payment options. These additions are indicative of the company's strategic effort to diversify its offerings and cater to evolving user preferences.
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