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Three Top Twitter Former Executives Sue Musk Over Owed Bills

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Ex-Twitter CEO Parag Agrawal and two other Twitter former executives have sued the social media CEO Elon Musk over unpaid bills.

In a 20-page lawsuit filed in Delaware Chancery Court on Monday, these executives claim that they are owed a total of more than $1 million which Twitter is yet to pay. They are seeking to be reimbursed for the costs of litigation, investigations, and congressional inquiries related to the former jobs.

In their claims, they added that their lawyers have on several occasions sent letters to Twitter’s attorneys outlining the legal expenses they have racked up, but the social media company has gone against its laws by refusing to reimburse the money to cover their expenses. Representatives of Twitter are still yet to respond to the lawsuit filed against the San Francisco-based company.

It would be recalled that in October 2022 following his acquisition of Twitter for a $44 billion deal, Musk immediately fired Twitter’s former Chief Executive Parag Agrawal, as well as other top executives such as Chief Financial Officer Ned Segal and legal affairs and policy chief Vijaya Gadde.

Following his sack, Agrawal was not meant to leave empty-handed, as part of the deal, the CEO will vest 100% of his unvested equity awards, according to a filing. Research firm Equilar estimated that he’ll make an estimated $42 million. Unfortunately, with his recent claims in the lawsuit, he reveals that he is still being owed by the company.

Ever since taking over as Twitter’s CEO, Elon Musk has been slammed by one lawsuit or the other. In November 2022, a lawsuit was filed against Twitter alleging that the social media company headed by Musk violated federal and state law that requires 60 days’ notice of mass layoffs, according to a court document.

The suit sought a court to declare that Twitter violated the WARN Act and to prevent it from doing so. It also sought to prevent Twitter from trying to obtain releases from workers without informing them of their rights.

Also, in April this year, several companies sued Twitter alleging that it has failed to pay some of its bills. In the proposed class-action lawsuit filed in the US District Court for the Northern District of California, the companies accused Twitter of not paying around $230,000 in bills. The allegations range from unpaid invoices to marketing companies for branded merchandise to rent for Twitter’s offices

Investors King understands that since Musk took over the company in October, he has been on a cost-cutting spree which might be attributed to the several fees owed to former executives and companies.

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Twitter’s Valuation Shrinks, Now One-Third of What Elon Musk Acquired it For Last Year

A recent report has revealed that Twitter’s current valuation has shrunk, as the micro-blogging platform is now one-third of what Elon Musk acquired it for last year October.

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A recent report has revealed that Twitter’s current valuation has shrunk, as the micro-blogging platform is now one-third of what Elon Musk acquired it for last year October.

According to financial services corporation Fidelity Investments, in its annual monthly report of portfolio valuations posted on the 28th of May, the financial services giant stated that the market value of its equity stake in Twitter, identified by its new name, X Holdings Corp. fell to $6.5 million at the end of April, from $19.66 million when Musk concluded the deal a 66% drop. This implied that Twitter’s current valuation is about $15 billion.

This means that in just six months since Musk paid the sum of $44 billion including $33.5 billion in equity to purchase Twitter, the company’s value has plunged by nearly two-thirds. Meanwhile, some other aspects of Twitter’s current financial health are uncertain, because the company hasn’t made enough disclosures.

Recall that Elon Musk admitted that he had a bit of buyer’s remorse over his $44 billion acquisition deal for Twitter which he stated that he obviously overpaid. This saw Musk warn workers that Twitter remained in a precarious financial position and, at one point, had been four months away from running out of money.

Investors King understands that part of the fall in Twitter’s value can be attributed to a series of decisions carried out by Musk, such as mass layoffs affecting critical teams and challenges with content moderation that have turned advertisers away from the platform.

Musk was able to win back some of them by providing steep discounts. He has also implemented subscription-based verification to boost sales.

Musk who expressed optimism, says he sees a ‘clear but difficult path’ to $250 billion valuation, which would mean current grants could 10x. He however noted that Twitter is on the path of an inverse startup. The mercurial mega-billionaire believes the social network will be worth far more in the future.

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WhatsApp Rolls Out New Feature ‘Status Archive’, For Business Accounts

Meta-owned messaging platform WhatsApp has rolled out a new feature known as ‘status archive’ for business accounts.

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Meta-owned messaging platform WhatsApp has rolled out a new feature known as ‘status archive’ for business accounts.

The ‘Status Archive’ feature will enable users conveniently manage their archive preferences and access their archived statuses directly from the menu within the status tab. Notably, the archived statuses will remain private and will be visible to only the respective businesses.

The archived statuses can be stored for up to 30 days on the user’s device, during this period, businesses can still create advertisements for either Instagram or Facebook or share status updates until it expires from the archive.

Investors King understands that this feature will be very pivotal for businesses, as it provides them with the opportunity to repost a status from their archived and share it with customers to enhance their business outreach.

The ‘status archive’ feature is currently available for beta users and is expected to roll out to a wider range of users in the coming weeks.

Once available, users will get a banner in the app’s Status tab, suggesting that updates will be kept on their devices for up to 30 days after it is shared. This feature is only limited to business accounts.

WhatsApp has in less than a decade become the most popular app for personal and business conversations. This has seen it become a widely used tool by business owners as it offers them a fast, simple, and convenient way to carry out their businesses and transactions.

With WhatsApp, companies can send appointment reminders, order notifications, product demonstration videos, verification codes, boarding passes, amongst others. It’s immediate, more personal, and international in reach. It also provides reliable delivery information, providing businesses the additional benefit of knowing what messages have been delivered and, ultimately, read.

The introduction of WhatsApp as a business tool is no doubt monumental. With its extensive reach, highly engaged user base, and rich communications capabilities, it has the potential to become one of the most powerful customer engagement channels on the market today, especially for those businesses serving a global audience.

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WhatsApp Unveils Game-Changing Feature: Edit Your Sent Messages

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In a world where communication has become more instant and spontaneous than ever, we often find ourselves wishing we could take back something we’ve said. Perhaps it was a simple typo, an autocorrect mishap, or a sudden change of heart. We’ve all been there. Fortunately, WhatsApp has heard our plea and introduced a game-changing feature that allows users to edit their sent messages.

Gone are the days of living with embarrassing mistakes or feeling the need to send a follow-up message to correct yourself. WhatsApp has now given us the power to make modifications to our messages after they have been sent. Whether it’s fixing a misspelling, adding crucial context, or rephrasing a statement, you can now do it all with just a few simple taps.

To access this revolutionary editing feature, all you need to do is long-press on the message you wish to edit. A menu will appear, presenting you with various options, and among them, you’ll find the coveted ‘Edit’ button. Once selected, you will be able to make changes to the message’s content, ensuring that it accurately reflects your intended meaning.

What’s truly remarkable about this feature is that WhatsApp has taken privacy and security into consideration. Edited messages will bear a distinct ‘edited’ label, notifying the recipient that a modification has been made. This transparency allows for open and honest communication while ensuring that the editing history remains concealed. As always, your messages, media, and calls on WhatsApp are safeguarded by end-to-end encryption, providing you with peace of mind.

The rollout of this groundbreaking feature has commenced worldwide, and users can expect to have access to it in the coming weeks. Whether you’re a business professional who needs to make a swift correction in a crucial message or a friend who wants to amend a statement that came out wrong, WhatsApp’s editing feature is set to revolutionize the way we communicate.

Imagine the freedom of expression and the elimination of anxiety that comes with knowing you have the ability to rectify any slip-up. With this new feature, WhatsApp empowers its users to engage in more confident and accurate conversations. No longer do we need to agonize over a misplaced word or hastily sent message; we can now correct and enhance our communication with ease.

So get ready to embrace this new era of messaging, where errors and regrets can be seamlessly resolved. WhatsApp’s editing feature is just one more step in the company’s mission to provide a user-friendly and versatile platform for effective communication. Edit your messages, fine-tune your conversations, and enjoy the benefits of enhanced control over your chats. Say goodbye to the fear of making mistakes and hello to a new level of messaging freedom.

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