Elon Musk's X obtains $44B valuation in sharp turnaround
ft.com
ft.com
“Valuation”
They have some slight integration but operate as different companies.
> It also improved after Musk gave a 25 per cent stake in his artificial intelligence start-up xAI to investors in the social media company early last year. xAI has obtained a valuation of $45bn, and the novel arrangement has provided new security to X’s lenders and boosted the platform’s valuation.
Take a look at what Pepsi did.
Pepsi had purchased several fast food restaurant chains. Pepsi made its soft drinks the default ones available there. After several years Pepsi spun off the fast food companies as a separate holding company but Pepsi shareholders owned the shares in the new company. Pepsi sodas were still exclusively sold at the new companies.
> "It also improved after Musk gave a 25 per cent stake in his artificial intelligence start-up xAI to investors in the social media company early last year. xAI has obtained a valuation of $45bn, and the novel arrangement has provided new security to X’s lenders and boosted the platform’s valuation."
It is an investment in kleptocracy.
...there was a $1B round with Elon and Darsana Capital Partners, which doesn't seem to be a VC, and the relative participation wasn't reported.
This seems to be Elon bailing out Twitter to pay interest and operations deficits, dressed up as an investment.
Oddly, though they could've probably priced the round any way they wanted to, the valuation reported was $32B.