News JVTech Elon Musk has so ruined Twitter that the company is selling the unthinkable
Published on 01/19/2023 at 20:50
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In great financial difficulties, the social network Twitter seems to stop at nothing to bail out its coffers. This week, the company owned by Elon Musk cleaned up its furniture, and sold a large part of it at auction on the Internet.
To keep your head above water and pay off your debts, Twitter seems ready for anything, including selling off its surplus power strips and office chairs. The proof: in the middle of the week, the social network surprised everyone by opening a big auction on the American site Heritage Global Partners
The sale only lasted 24 hours, and all lots found takers. It was mostly office equipment from the California headquarters of Twitter, based in San Francisco. On the program, a set of 68 Belkin power strips, a set of 6 faux leather bar chairs or an electric smoker coming, without a doubt, from the kitchen of the social network.
Twitter is holding an auction for office furniture/decor, and so far bidders say they’re willing to pay $16,000+ for giant Twitter bird statues… pic.twitter.com/WkCVjeDPdx
— Alexa Corse (@AlexaCorse) January 17, 2023
So far in auction of Twitter office stuff, seems like memorabilia and industrial kitchen stuff is getting eyeballs. Fair amount of office furniture still languishing without at opening bid or 10-20% retail price pic.twitter.com/Sf3gZYlvBW
— Jake Swearingen (@JakeSwearingen) January 17, 2023
But other more decorative objects, and emblematic for some, were for sale. Among them, the neon-style Twitter logo, offered at $35,000, or a large vegetal at sign at $12,000.
On social networks, many people note that the smallest office accessory sold for gold, usually much more expensive than the same new model. Obviously, some wanted to offer themselves above all a piece of Twitter at full price. Enough to make this sale a success.
A surprising sale that heralds a move from Twitter?
If it is surprising that a large company like Twitter manages to sell its furniture on an online auction site, in fact, the gait is not so surprising. We have known for a few weeks now that the social network is in default of payment of its rents for some of its offices. This includes its San Francisco headquarters, the very one that just sold some of its assets.
We can therefore imagine that this sale portends an upcoming move of Twitter to premises more suited to its current workforce. Because, let’s remember, the company has laid off thousands of people recently, and a significant part of its offices are empty. Paying colossal rent for unoccupied offices is not a very good strategy for a company that is not profitable.
At last, Elon Musk will soon have to pay part of the interest linked to his takeover of Twitter, reports the Financial Times. And the billionaire, who has seen his fortune melt away at a spectacular speed in recent months, could be forced to take drastic new measures to balance the financial balance. In this context, it is not certain that selling power strips will be sufficient in the long term…