Elon Musk puts Twitter acquisition deal on hold, indefinitely!

Must Read

The drama related to the Twitter acquisition by Elon Musk is far from over. In the latest, and the biggest as well, twist Elon Musk has put the Twitter acquisition on hold.

Citing the fake, spam and bot accounts as a reason Musk has tweeted that the Twitter buyout deal is halted, without giving any timeline on hinting at the next course of action.

Musk tweeted an old article from Reuters, which addressed Twitter’s declaration of fever than 5% of total accounts as spam or fake.

Advertisements

Twitter currently has 229 million monetizable users. The micro-blogging website doesn’t consider only the monetizable users as active ones. It means that nearly 12-13 million accounts could be responsible for the fallout of the $44 billion deal.

Surprisingly, the reasoning and style of Musk backing off from the deal seems quite unusual.

While Elon Musk has all the authority to take a final call, the cited reason looks very unconvincing. A filing submitted by Twitter more than two months ago clearly indicates that there is a more troubling reason for Musk to halt the Twitter buyout deal, albeit temporarily.

As per Twitter’s own declaration, only 5% of the Twitter’s total monetizable user base are either spam or fake accounts. However, many users believe that Musk is citing a lame excuse in a bid to back off the deal that he closed abruptly and in a hush-hush manner.

Interestingly, the latest move made by Parag Agrawal, CEO – Twitter Inc., seems to be related to Musk’ decision. Did Agrawal know about the bomb just dropped by Elon Musk? It’s now a question that needs to be reevaluated. Agrawal has fired two top executives from the company and seized all the hiring.

Advertisements

What is Musk really up to? It is difficult to guess at the moment. But his decision may prove fatal for Twitter once the trading starts today. How big dent Elon Musk’s decision would make on Twitter, only time will tell.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Meta introduces 3D Avatars for Facebook, Instagram, and you must use it

Meta Platforms, Facebook's parent company, has introduced virtual 3D avatars for Indian users. The avatars will be available...
- Advertisement -

In-Depth: Dprime

Will ‘TikTok By Microsoft’ Be A Winner?

For the last two years, TikTok has been in the public eye for all sorts of reasons. First, it was the exploded and unparalleled...
spot_img

More Articles Like This