Elon Musk Wants Twitter To Reach One Billion Users, Be More Like WeChat - InvestingChannel

Elon Musk Wants Twitter To Reach One Billion Users, Be More Like WeChat

Elon Musk told %Twitter ($TWTR) employees that the company needs to become more like TikTok if it wants to achieve his goal of reaching one billion users worldwide.

When asked in an all-staff meeting how Twitter could grow its user base, Musk explained to employees that the app should offer more utility and make sure “people are very entertained and informed.”

Musk went on to talk about WeChat, the Chinese app that mixes social media with payments, games, and ride-hailing.

“There’s no %WeChat equivalent outside of China,” Musk said when speaking to Twitter staff via his phone camera. “You basically live on WeChat in China. If we can recreate that with Twitter, we’ll be a great success.”

Musk also singled out %TikTok and complimented its algorithm for not being “boring,” saying “we could hone Twitter in the same way to be interesting.”

Musk then said that Twitter could be better at sharing news content. “I think Twitter can be much better about informing people of serious issues,” he said.

During the call, Musk reiterated that he wants Twitter to lean more heavily on subscriptions and payments, suggesting that people should pay to be verified on the social media platform. At one point, he suggested an “irony label” so that people can better show the intention behind a tweet.

He also repeated earlier comments about wanting to crack down on bots and spam. The Tesla and Space-X CEO earlier threatened to scrap the acquisition over the bot issue, which led Twitter to give him extensive data as a show of good faith.

Finally, Musk said he wants to make Twitter more financially disciplined. He refused to say whether he’d serve as Twitter’s CEO after taking over the company but made it clear that he’ll be deeply involved in the business.

Musk has offered to pay $44 billion U.S., or $54.20 U.S. per share, to buy Twitter and take the company private. Twitter stock is down 12% this year at $37.36 a share.

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