Twitter’s new CEO, Linda Yaccarino, started working earlier than expected.
On Tuesday, tech billionaire Elon Musk officially stepped down as CEO of Twitter Inc after holding the position for more than seven months. He handed over the position to Linda Yaccarino, who was previously the global advertising and partnerships chairperson at NBCUniversal Media. However, according to Yaccarino’s LinkedIn profile, she has already been working as CEO of Twitter since May 2023, two months prior to the official announcement.
Yaccarino announced her first day on Twitter via a tweet on Tuesday, displaying her eagerness to get to work. Her appointment shows Musk’s commitment to setting up the X Corp ecosystem.
As a former advertising specialist, Yaccarino’s new role at Twitter will involve a lot of work on the company’s ad sector. Twitter has lost over half of its revenue streams since Musk took over, but both Musk and Yaccarino remain optimistic about the company’s future prospects.
Musk has emphasized that Twitter will prioritize free speech, even if it means losing advertising revenue. The social media giant was acquired by Musk for $44 billion last year, but has since slowed down significantly. According to research by Insider Intelligence, Twitter’s top 50 advertisers have been spending less since Musk’s acquisition, leading to an estimated 28% decrease in global ad revenue compared to last year.
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Musk intends to make Twitter a Web3 platform where users can socialize with ideas and money flow. Twitter has already begun integrating with digital assets such as Bitcoin and Ethereum for content creators’ tipping and ads payment. The Dogecoin community hopes that Musk will integrate Doge for Twitter payment, adding to its intrinsic value.
Twitter’s actual reported user numbers remain in contention due to increased bot accounts. It will be interesting to see how Yaccarino deals with this issue after the former administration failed to address it significantly.
