X CEO Linda Yaccarino is quite optimistic about the future of the popular social media platform (formerly known as Twitter).
She claimed that 90% of the advertisers who recently left the website are now back and promised that the platform will be profitable as early as 2024.
X CEO Linda Yaccarino Claims 90% of Advertisers Already Back on the Platform
Linda Yaccarino, CEO, X/Twitter speaks onstage during Vox Media's 2023 Code Conference at The Ritz-Carlton, Laguna Niguel on September 27, 2023 in Dana Point, California.
According to Business Insider's latest report, Linda Yaccarino was invited to an on-stage interview at Vox's Code Conference on Wednesday, Sept. 27.
The social media platform's chief said that since she's already immersed in this kind of business, she can already make good predictions about the company's future.
"What's coming is that it looks like in early '24, we will be turning a profit," said Yaccarino.
This prediction of her is quite surprising given the fact that X has suffered tremendous losses ever since Elon Musk took over, especially when the billionaire decided to rebrand his platform.
But, she backed her prediction by claiming that 90% of the platform's advertisers, which left the company after Musk's acquire it, have returned in the last twelve months.
Experts said that the platform's chief executive officer seemed to be referring to the advertiser exodus that happened in October 2022, in which the company's top 100 ad company partners left the platform.
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Yaccarino Boasts About Increased X Users
This illustration photo created in Los Angeles, California, on July 24, 2023, shows the Twitter bird logo in the background of the Twitter page of Elon Musk, advertising a possible X as a replacement Twitter logo. Elon Musk killed off the Twitter logo on July 24, 2023, replacing the world-recognized blue bird.
Tech Crunch reported that Yaccarino shared her predictions after the social media platform announced spending cut efforts, such as layoffs.
Recently, X confirmed that around 1,500 of its 8,000 employees were terminated. Some sources even stated that these affected workers didn't receive their severance pay.
Aside from this, X is also facing numerous lawsuits, such as legal actions over unpaid rent for office spaces in several countries.
Despite these issues, Linda Yaccarino still boasted X's achievements, especially its increased number of users. She said that the social media company acquired more users in June.
However, this claim was pushed back by Julia Boorstin, one of the interviewers during the on-stage event. She pointed out the data from the app analytics firm Apptopia, which revealed the real user engagement of X.
Apptopia's recent report specifically stated that X downloads decreased by 30% in the past two months after it was rebranded. Aside from this, the app analytics firm also revealed that the platform's web traffic tumbled, as well as its user numbers.
Related Article: NewsGuard Report Suggests X Allows Increased Engagement with Foreign Propaganda Since Elon Musk Took Over Twitter
