Wednesday, August 10, 2022
BusinessElon Musk temporarily holds Twitter deal, reason given in tweet

Elon Musk temporarily holds Twitter deal, reason given in tweet

Elon Musk said in the tweet about holding the deal

Tesla CEO and American billionaire Elon Musk offered to buy Twitter for $ 44 billion in the past as the tech world’s most expensive deal .

The process related to the deal is going on and it was expected to close by the end of the year, but suddenly they have surprised everyone.

Now Elon Musk has told that he is holding this deal for some time.

Elon Musk said in the tweet about holding the deal

Elon Musk informed from his official Twitter account that he is currently holding his deal with Twitter.

Sharing a report by news agency Reuters , he wrote, “Twitter deal is being temporarily suspended, more information is being gathered that spam/fake accounts on the platform represent less than five percent of the total userbase ”

The reason for doing so mentioned in the tweet.

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Spam/fake accounts become the cause of trouble

In the deal with Twitter, Musk has promised that all spam and fake accounts will be removed from the platform.

A recent Twitter filing has revealed that the number of fake and spam accounts on the platform with more than 220 million users is less than five percent.

In his tweet, Musk has clearly said that before closing the deal, he wants to gather more information related to it and want to test the veracity of the claim.

Removing spam/fake accounts is a priority for Musk

Before closing the deal, Musk wants to be sure about the number of spam and fake accounts.

They have clarified that removal of such accounts is a priority.

In fact, it has been claimed that less than five percent of monetizable daily active user accounts fall under the spam or fake category.

After deleting these accounts, all accounts will be able to be monetized apart from making the platform secure.

Twitter shared the risks associated with the deal

The microblogging platform has also mentioned the risks associated with the deal with Elon Musk in the filing.

The platform believes that nothing can be said clearly about whether advertisers will continue to invest in Twitter or not.

In addition, “uncertainty related to future planning and strategy” could weigh on advertisers. The social media company fears that its earnings may be affected due to this takeover.

What does it mean to hold the Twitter deal?

If you think that holding the Twitter deal means Elon Musk won’t or won’t be able to buy Twitter, that’s not the case.

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Elon Musk will take some time before closing the deal, so that he can gather information according to his need in advance.

There is no harm in doing this and regulatory agencies in different countries of the world are also reviewing it before closing the deal.

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Updated on August 10, 2022 2:53 pm