<p>More than 500 of Twitter's advertisers have paused spending on the micro blogging site since Elon Musk's takeover last year, <em>The Information</em> reported on Wednesday, citing a person familiar with its ad business.</p>.<p>The social media company's daily revenue on Jan. 17 was 40 per cent lower than the same day a year ago, the report added.</p>.<p>The drop in the company's revenue was first reported by technology newsletter <em>Platformer</em> on Tuesday.</p>.<p><strong>Read | <a href="https://www.deccanherald.com/business/business-news/twitter-sells-off-coffee-machines-neon-logo-as-musk-struggles-to-pay-rent-1182182.html" target="_blank">Twitter sells off coffee machines, neon logo as Musk struggles to pay rent</a></strong></p>.<p>Twitter did not immediately respond to a <em>Reuters</em>' request for comment on both the media reports.</p>.<p>Since Musk took over Twitter last October, corporate advertisers have fled in response to the billionaire laying off thousands of employees and rushing a paid verification feature that resulted in scammers impersonating companies on Twitter.</p>.<p>The social media platform recently reversed its 2019 ban on political ads and said that it would relax advertising policy for "cause-based ads" in the United States and align its ad policy with TV and other media outlets.</p>
<p>More than 500 of Twitter's advertisers have paused spending on the micro blogging site since Elon Musk's takeover last year, <em>The Information</em> reported on Wednesday, citing a person familiar with its ad business.</p>.<p>The social media company's daily revenue on Jan. 17 was 40 per cent lower than the same day a year ago, the report added.</p>.<p>The drop in the company's revenue was first reported by technology newsletter <em>Platformer</em> on Tuesday.</p>.<p><strong>Read | <a href="https://www.deccanherald.com/business/business-news/twitter-sells-off-coffee-machines-neon-logo-as-musk-struggles-to-pay-rent-1182182.html" target="_blank">Twitter sells off coffee machines, neon logo as Musk struggles to pay rent</a></strong></p>.<p>Twitter did not immediately respond to a <em>Reuters</em>' request for comment on both the media reports.</p>.<p>Since Musk took over Twitter last October, corporate advertisers have fled in response to the billionaire laying off thousands of employees and rushing a paid verification feature that resulted in scammers impersonating companies on Twitter.</p>.<p>The social media platform recently reversed its 2019 ban on political ads and said that it would relax advertising policy for "cause-based ads" in the United States and align its ad policy with TV and other media outlets.</p>