Pinterest’s net profit plunged 90% to $17 million, as the digital scrap-booking company reported a big increase in marketing spending on 4% higher revenue. Shares fell 10% after hours, offsetting some of their 20% year-to-date gains. The company also said Todd Morgenfeld, its chief financial officer and head of business operations, will leave in July after six years at the company, a period...
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Musk Puts $20 Billion Value on Twitter
Elon Musk offered Twitter employees stock grants at a valuation of roughly $20 billion, said a person familiar with an email Musk sent to staff, less than half what he paid to buy the company. It was a concrete acknowledgment of how much Twitter’s value has dropped since the deal—but it is still well above public market valuation levels for Twitter’s rivals. As Musk has...
Twitter Valued at $20 Billion in New Employee Stock Grant
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