X Lender Diameter Says Platform More Profitable Than Market Saw
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The cofounder of Diameter Capital Partners, one the first firms to snap up debt tied to Elon Musk’s buyout of X, says that the social media company was more profitable than the market was accounting for.
“We’ve been outside-in, tracking ad data and other things from third-party sources to develop our own view of what revenue was likely at the business,” said Diameter’s Jonathan Lewinsohn in an interview from the sidelines of the Bloomberg Invest conference in New York. “We had a sense that the profitability might be better than what people think.”