--Elon Musk's social media platform X, formerly known as Twitter, has raised close to $1 billion in new equity from investors, Bloomberg reported Wednesday, citing people familiar with the matter.
--The deal values X at about $32 billion, roughly in line with its valuation when Musk took it private in 2022, according to the report.
--Musk participated in the equity raise, as did Darsana Capital Partners, which bought some of X's debt earlier this year, Bloomberg reported, citing some of the people familiar with the matter.
--X is considering using some of the proceeds to pay down its remaining debt load, Bloomberg said.
--X didn't respond to a request for comment, according to the report.
Full article at https://www.bloomberg.com/news/articles/2025-03-19/elon-musk-s-x-raises-close-to-1-billion-in-fresh-equity-funding
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
March 19, 2025 12:50 ET (16:50 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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