Financial Times (FT) reported social media company X was attempting to recruit small-to-medium-sized business (SMBs) to boost advertising revenue in the aftermath of an expletive-filled rant by majority shareholder Elon Musk (pictured) against well-known brands which boycotted the site.
The company told FT SMB’s had long been part of its strategy and it was now planning to go further with them.
X stated SMBs are already a “very significant engine” which it had “underplayed for a long time”, FT reported.
The advertiser backlash occurred after Musk appeared to support an anti-Semitic conspiracy theory in a post on the platform.
Musk apologised for the post during an appearance at The New York Times (NYT) Dealbook Summit last week, when he also slated big name advertisers and predicted the end of X.
NYT reported on 30 November at least six marketing agencies stated the brands they represent would not resume advertising on X, while others advised customers to stop posting on the platform.
Bloomberg reported on 1 December Walmart, the largest retail chain in the US, had pulled its adverts, joining a list of influential companies including Apple, Comcast, IBM and The Walt Disney Company.