Twitter recorded revenue of $5 billion in 2021.
Balenciaga had more than a million followers on Twitter.
It is expected that by the end of 2022, the company will lay off around 50 percent of the workforce.
Social networks have become the best tool for brands to reach their consumers around the world, so many brands are in these spaces. Recently, it was revealed that the fashion brand Balenciaga is the most recent to close its Twitter account, after Elon Musk’s arrival on the board of directors.
Let’s remember that on October 27, Elon Musk closed his purchase of the bird’s social network, after so much controversy. The purchase of Twitter was for 44 billion dollars, and it is one of the most important social networks, which according to data from your reportin the past fiscal period, that its total worldwide revenue amounted to more than US$5 billion, up from US$3.72 billion a year earlier.
Balenciaga closes Twitter account
In the last days, the name of Twitter has been involved in some controversies, so it is in a stage of changes and some brands and personalities have not taken it in the best way, so they have decided to leave the social network.
Balenciaga has become the first major fashion brand to officially leave Twitter following Elon Musk’s takeover of the social media platform. published Demna, creative director of the Spanish company.
The fashion brand had more than a million followers, so its main communication network is Instagram, where it usually deletes its posts once a season or fashion show ends and there it has more than 14 million users.
But Balenciaga is not the only brand that has made some changes to its account on the social network, as General Motors and Dyson suspended advertising campaigns, although they still have their accounts open around the world.
For their part, other fashion celebrities such as Shonda Rhimes and Gigi Hadid They also left the digital space, leaving a message about the questions raised by the new leadership in the application.
“For a long time, but especially with its new leadership, it is becoming more and more of a cesspool of hate and bigotry, and it is not a place I want to be a part of. I cannot say that it is a safe site for anyone, nor a social platform that does more good than harm”, published the American model.
All this would be due to the constant changes in which Elon Musk’s Twitter is, as well as the freedom of expression policies that he promulgates, that proposes less content moderation, and that is related to hate speech.
In that sense, since the arrival of the Tesla CEO, many things have changed on the platform, such as laying off half of the workforce of 7,500 employees, as well as testing and deleting two functions.
And this is how, all these times of change have had a positive impact on other social networks that have a profile similar to that of Twitter.
For all this, new social networks have emerged that are taking over to replace Twitter, such as Mastodon, which according to reports has grown 657 percent since October 27 and exceeds one million users.
In conclusion, the technology industry is one of the most important in the world and any change in these companies can have a significant impact on people and the world economy.
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