Musk puts Twitter deal 'on hold', says still committed to acquisition
San Francisco/New Delhi
13-May-2022
After saying that he is putting $44 billion Twitter deal on hold till he gets to know how many fake or spam accounts are present on the platform, Tesla CEO Elon Musk on Friday said that he is still commited to the $44 billion acquisition.
"Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5 per cent of users," Musk said in a tweet to his over 92 million followers.
Twitter's share price plunged on the news of the deal being put on hold.
He later tweeted: "Still committed to acquisition".
His followers blasted the tweet, saying he has disturbed the platform, "pushing senior staff to resign and through doubts on its users".
"If Twitter collapses, it is on you," said one of his followers.
"Do something for actual people instead of buying Twitter," another posted.
Twitter estimated in a filing earlier this week that false or spam accounts represented fewer than 5 per cent of its monetisable daily active users during the first quarter.
The micro-blogging platform had 229 million users in the first quarter.
Musk has signed a $44 billion deal to take over Twitter, of which he will pay $21 billion from his own pocket while the rest will come as a loan from a consortium of banks. - IANS
More Headlines
After Six Years of Profitable Bootstrapping, Medulance Raises Rs 25 Crore to Expand Nationally
IIM Grad and First-Generation Entrepreneur Anish Popli's ProcMart Secures Rs 250 Crore in Series B Funding
First Indian Space Tourist Talks Dreams and Inspiration Before Blue Origin Flight
Former MLA Rathod Bapu Rao Switches from BJP to Congress in Telangana
Zerodha Co-Founder Nikhil Kamath Launches 'WTFund' to Support Young Entrepreneurs
After Six Years of Profitable Bootstrapping, Medulance Raises Rs 25 Crore to Expand Nationally
IIM Grad and First-Generation Entrepreneur Anish Popli's ProcMart Secures Rs 250 Crore in Series B Funding
First Indian Space Tourist Talks Dreams and Inspiration Before Blue Origin Flight
Former MLA Rathod Bapu Rao Switches from BJP to Congress in Telangana
Zerodha Co-Founder Nikhil Kamath Launches 'WTFund' to Support Young Entrepreneurs