Musk will give Twitter workers stock awards based on $20 bn valuation
Srinagar, March 26 -- San Francisco, March 26 () Elon Musk has finally broken his silence on giving stock awards to employees, saying that they will get stock awards based on a roughly $20 billion valuation.
It is less than half of $44 billion for which Musk acquired the micro-blogging platform, reports The Wall Street Journal.
"I see a clear, but difficult, path to a >$250B valuation," he told employees in an email.
He said that Twitter is being reshaped so that the company "can be thought of as an inverse startup."
In a separate email, Twitter told employees it is offering new equity grants to staff that will start to vest after six months.
In about a year, the company will offer a liquidity event in which they can cash out some of...
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