less than a month later announced Tesla CEO Elon Musk is set to buy Twitter for $43 billion, but the deal has been put on hold.
in a May 13 tweetthe current world’s richest man Elon Musk said:
“The Twitter deal is on hold for the time being with pending details, in favor of a calculation that spam/fake accounts do represent less than 5% of users.”
Musk provides some details, but follow up another tweet Hours later, he said he was “still committed to the acquisition.”
Quarterly financial report raises questions about fake accounts
Musk’s original tweet Reuters article covers twitter quarterly financial report.
The report estimates that only 5% of the platform’s roughly 300 million monthly active users are spam or fake accounts.
Twitter based its estimate on a review of a sample of accounts and said the number was “reasonable.” However, it acknowledged that the measurements had not been independently verified and that the number of these accounts could be higher.
Musk Tweeted before One of his tasks after acquiring Twitter was to eliminate spam bots.
Tweets after Twitter Exec reshuffle
Musk’s tweet came a day after announcing that two Twitter executives had been fired. leave the company.
Current CEO Parag Agrawal has asked consumer general manager Keyvon Beykpour and revenue product head Bruce Falck to leave.
The company also announced it would freeze hiring in an effort to take on more financial responsibility.
Investors fear a deal will go through
Shares in the social media platform soared to nearly $50 a share after news of Musk’s acquisition of Twitter, but never reached the $54.20 a share price agreed in the deal.
market analysis advice That suggests investors are skeptical about the deal’s success.
Part of the concern appears to be that Musk borrowed Tesla stock to fund the purchase.
The initial tweet sent the social media platform’s stock plunging 20% in premarket trading, although it rebounded after the second tweet.
Featured image: Sergey Elagin/Shutterstock
