Twitter is selling office supplies and other namesake memorabilia in an auction, but organizers say the sale has nothing to do with the platform’s financial situation.
Key Details
- Twitter did a 27-hour online auction organized by Heritage Global Partners Inc. to sell off its remaining office supplies.
- The auction consists of 631 lots containing regular office supplies such as whiteboards, desks, coffee makers, and other things such as Twitter neon signs and bird statues.
- The majority of the items had starting bids of $25 and have reached high prices, like the neon Twitter bird logo that had 103 bids reaching $35,500 with an hour left of the sale.
Why it’s news
Twitter has been taking multiple cost-cutting measures, including cutting employees and cutting back on office space now, the company decided to sell off office supplies and other Twitter-related items in an online auction, but organizers say the auction isn’t to bring in more money.
Although the auction isn’t intended to bring more cash into Twitter, it is certainly doing so with multiple items racking in bids in the thousands. The auction was a 27-hour online auction from January 17 at 7 am PT to January 18 at 10 am PT.
The auction consisted of many different things, from Macbooks to coffee makers and Twitter memorabilia. Most of the office items have reached hundreds of dollars, while other items, like a Twitter bird statue, currently have a price of $30,500 with nearly an hour left of the sale.
Although the company says the auction wasn’t intended to help Twitter’s financial situation, it undoubtedly has helped the cause considering Musk says Twitter is looking at a negative cash flow of about $3 billion next year, which has led him to continuously make cost-cutting measures.