Micro-blogging platform Twitter in a bid to woo brands to advertise on the platform has re-strategized a new way to achieve that.
The social media company is set to offer free ads to brands to make them run advertisements on the platform, following the deterioration of its ads business.
According to a recent email, the social media platform is offering advertisers ad spending up to $250,000.
Companies that spend more than $500,000 on Twitter ads will receive a 100% match on their spending in equivalent marketing value up to $1 million. A Twitter executive described it as the most aggressive ads spend incentive ever.
Twitter has continued to witness a significant decline in advertising revenue as the company struggles to retain advertisers following Musk’s takeover of the company.
Recall that during Musk’s takeover of the company last year October, a report disclosed that in the 25 days since he became the company’s CEO, half of its top advertisers stopped advertising on the platform.
These advertisers expressed concern over Musk’s content moderation on the platform which they feel will affect their advertisement on the platform.
Reports disclose that these companies since 2020 have accounted for nearly $2 billion in advertising revenue.
Also, a coalition of civil rights groups escalated a call for brands to pause on ads spending on the platform in the light of inflammatory rhetoric and problematic policy changes from Musk.
This coalition group sent letters to giant companies such as Amazon, Procter $ Gamble, Disney, Capital One, Coca-Cola, etc to voice their concerns about what the group perceived as increased hate and offensive speech on the platform.
Investors King understands that Twitter gets over 90% of its revenue from advertising. Though Musk has implemented other revenue streams for the social media company such as payment for blue verification Tick, Ads remain the core component of Twitter’s business.
The company posted ads revenue of $1.18 billion in the second quarter of 2022.
Elon Musk Envisions X as the Future of Your Financial Life
Tech visionary Elon Musk unveiled his vision for X, aiming to transform it into the epicenter of people’s financial worlds by the end of 2024.
Musk’s plan transcends mere payment solutions, targeting nothing short of the complete financial ecosystem, including money and securities. “You won’t need a bank account,” he affirmed.
X, led by CEO Linda Yaccarino, sees this as an ambitious opportunity that could reshape the financial landscape as we know it.
Musk expressed his unwavering commitment to the cause, stating, “It would blow my mind if we don’t have that rolled out by the end of next year.”
This ambition traces back to Musk’s dot-com-era online bank, X.com, which later evolved into PayPal. Musk aims to take a page from his earlier playbook, hoping to outshine PayPal with a more comprehensive approach.
The platform’s offerings are set to include high-yield money market accounts, debit cards, checks, and loan services. Musk’s endgame? An ecosystem that empowers users to send money worldwide instantly and in real-time.
However, this transformation is not without its challenges. Elon Musk must convince users of the necessity of such an all-encompassing platform while gaining their trust with their financial lives.
The vision of X as an “everything app” resonates with the rise of super apps like WeChat in China, which provide users with access to a myriad of services, from shopping to transportation.
As X positions itself to revolutionize the financial industry, Musk’s audacious endeavor promises to change the way we handle money, potentially eliminating the need for traditional banking as we know it.
The world watches with bated breath to see if Musk’s bold vision will become a reality.
WhatsApp Introduces Dual Account Feature, Enabling Users to Sign Into Two Accounts
WhatsApp has introduced a groundbreaking innovation that promises to redefine the user experience.
This new feature allows individuals to simultaneously manage two WhatsApp accounts on a single device, eliminating the need for dual phones.
The eagerly anticipated announcement was made by Mark Zuckerberg, Facebook’s CEO, who assured Android users that this feature will soon grace their screens.
Gone are the days of juggling multiple WhatsApp accounts, a task that often required carrying two separate devices. While tech giants like Xiaomi and Oppo had previously introduced app cloning features for multiple WhatsApp instances, WhatsApp’s integrated approach sets a new standard for seamlessness.
This innovation is poised to be a game-changer for users who navigate both personal and professional realms on this ubiquitous messaging platform.
Cumbersome login-and-logout routines and the perpetual concern of messaging from the wrong account will soon be a thing of the past, replaced by a newfound ease of multitasking.
Activating this feature is a straightforward process. Users need only navigate to the ‘Settings’ menu and select ‘Add Account.’ During setup, a second phone with a SIM card or a device supporting eSIM technology is required to unlock the full potential of multi-SIM functionality.
WhatsApp ensures that each account can have its own customized notification and privacy settings, preserving data integrity and personalization.
In addition to the dual account feature, WhatsApp recently introduced passkey support for Android, enhancing security by providing an alternative to SMS-based two-factor authentication.
This latest advancement underscores WhatsApp’s dedication to user convenience, connectivity, and digital identity security, setting the stage for a more organized and efficient way of communication.
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