Twitter auctions off items for more than $ 100K.
The large bird logo statue sold for $100,000 at the end of the auction. According to The Information, the fourth-quarter revenue for the year had fallen around 34% from the previous year to $1.25 billion. Nick Dove, a representative of Heritage Global Partners, said that the auction had nothing to do with the $44 billion purchase of the platform. The company was in the fast lane to bankruptcy when Musk bought it.
Many of its items were auctioned off this week. The large bird logo statue sold for $100,000 at the end of the auction. The company was in the fast lane to bankruptcy when Musk bought it. He laid off several employees. Some employees left the company because they weren't comfortable with the new work and they weren't fond of Musk.
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According to The Information, the fourth-quarter revenue for the year had fallen around 34% from the previous year to $1.025 billion. The company is still trying to save itself, despite the fact that it is no longer speeding toward bankruptcy. There was a 40% drop in ad revenue on Tuesday compared with the same day in 2022. An annual option for its Blue subscription service is one of the solutions being worked on.
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Auctioning off user handles to boost revenue was a solution reported in January. The platform generated money through this week's auction. Furniture such as chairs and couches were included in the auction.
Nick Dove, a representative of Heritage Global Partners, told Fortune Magazine in December that the auction had nothing to do with the $44 billion purchase of the platform. He said that anyone who thinks that the revenue from selling a couple computers and chairs will pay for the mountain is a moron.
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Along with the bird logo that sold for $100,000, a planter in the shape of a commercial sold for almost $15,000. A high-end La Marzocco Strada 3 espresso machine sold for almost $13,500, while a custom reclaimed wood conference room table sold for close to $10,500. There was a wide variety of meat-slicing machines, industrial-sized freezers, and several luxurious and high-end items.
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The final results of the auction have not yet been published by Heritage Global Partners. Although the sales of industrial restaurant appliances and luxury furniture will not add up to $44 billion, it shows that the items were prized enough for those willing to purchase them. The auction ended on January 18th.