Turnaround. Elon Musk said his deal to buy Twitter was “temporarily suspended” after the social network reported that fake accounts or spam accounted for less than 5% of its 226 million monetizable daily active users.
The Tesla CEO, who has offered to buy Twitter for $44 billion, tweeted a link to a May 2 Reuters report on the Twitter filing, saying he wanted to see the company’s calculations.
“The Twitter agreement is temporarily suspended pending details supporting the calculation that spam/fake accounts indeed represent less than 5% of users”tweeted Musk.
Twitter has had issues with math in the past. A few weeks ago, it said in an earnings report that it had overestimated its daily users for three consecutive years. The company said a technical error caused it to count multiple accounts as active, despite being tied to a single user, and this caused it to miscount its user counts down to 1. .9 million each quarter.
Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of usershttps://t.co/Y2t0QMuuyn
— Elon Musk (@elonmusk) May 13, 2022
Musk has made reducing the number of “spam and scam bots” and “bot armies” on Twitter a key part of his pitch for improving the service, in addition to prioritizing freedom of speech and freedom of expression. open platform ranking algorithms.
The suspension of the agreement represents the final obstacle to Musk’s attempt to take control of the social network. Currently, Twitter’s share price had plunged 19%. The company initially announced a so-called “poison pill” measure to prevent the takeover, before finally agreeing to Musk’s proposal in late April.
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