Tag: twitter deal

International Technology

Twitter Loses Its CEO Parag Agarwal As Elon Musk Takes Control

HT News

Twitter Chief Elon Musk announced changes in the top position of the company soon after taking charge. Twitter’s chief executive Parag Agarwal and chief financial officer and its head of legal policy, trust, and safety were sacked on Musk’s orders.

HIGHLIGHTS

• Elon Musk sacked officials of Twitter on Tuesday
• Musk said Twitter won’t be free-for-all hellspace
• Former US president Donald Trump could return to Twitter

How Did Elon Musk Close Twitter Deal?

Elon Musk chose to close the deal hours before the court-appointed deadline for him to seal the on-again, off-again Twitter deal. Musk sent a tweet to all saying that he bought the social media network “because it is important to the future of civilization to have a common digital town square, where a wide range of beliefs can be debated in a healthy manner.”

What Were Musk’s Initial Orders As Twitter Chief?

Twitter Loses Its CEO Parag Agarwal As Elon Musk Takes Control

As soon as Musk took control of the social media network, he sacked two of the top-ranking employees including CEO Parag Agarwal. But some employees have already left the company. And those who have remained want to give Elon Musk the benefit of doubt. Parag Agarwal is exploring legal options to make Musk respect the terms of the takeover deal.

Why Did Elon Musk Say Twitter Won’t Be Free-For-All?

Activists fear that Twitter will see a surge in harassment and misinformation as Elon Musk is himself known for trolling other users. But Musk is determined to his idea of Twitter “cannot become a free-for-all hellscape where anything can be said with no consequences.”

It is to be noted that former US president Donald Trump was blocked due to … Read the rest

International News & Politics

Elon Musk Could Walk Away From Twitter Deal Due To This Reason

HT News

Elon Musk’s latest comments on the Twitter deal put his intentions of buying the social media giant in doubt. The Tesla and SpaceX exploration chief hinted at a “very significant” question about the number of fake users on the social network during the Qatar Economic Forum last month.

HIGHLIGHTS

• Elon Musk said he feared an abundance of fake accounts on Twitter
• The Tesla chief could end the deal by paying a $1 billion breakup fee
• Musk’s comments had a direct impact on Twitter shares that sled further

Why Is Elon Musk Concerned About Fake Accounts On Twitter?

The richest man in the world had previously said that he could walk away from the Twitter deal over concerns of fake accounts on social media. Also, he believes that fake accounts are abundant. But Musk has been unable to find the percentage of fake accounts despite being given access to internal data.

Twitter executives peg the percentage of fake accounts at less than 5% but Elon Musk believes the number to be much higher than what is claimed by Twitter executives.

What Did Elon Musk Say About The Twitter Deal?

Elon Musk Say About The Twitter Deal

A Washington Post report cited an anonymous source saying that Musk’s team is looking for a “change in direction”. Earlier Elon Musk raised his concerns about fake accounts via a video link to the Qatar Economic Forum last month. He said the Twitter deal was held up by “very significant” questions about the number of fake Twitter accounts.

How Did Share Market React To Musk’s Comments?

Washington Post reported that Twitter shares further lowered after Musk’s comments on ending the deal if the fake … Read the rest

News & Politics Technology

Elon Musk Buys Twitter At $44bn But The World Isn’t Happy

HT News

Elon Musk finally sealed the Twitter deal at $44bn to get control of the social network with more than 200 million users and growing. Tesla chief who has a frequent critic of Twitter in the past said that the platform had not lived up to its potential as a platform for “free speech”.

How The Twitter Deal Finalized?

On 4 April, Elon Musk emerged as the single largest shareholder of the social media group. On 14 April, he offered to buy all Twitter shares for $54.20 each in a takeover bid. But the Twitter board opposed the attempt by making it expensive for Elon Musk. But the initial transaction faded after shareholders warmed to Musk’s offer of putting $21bn of his own money and taking rest of the amount as loan from financial institutions including Morgan Stanley. Twitter confirmed the sale and said that it would be closed in 2022.

History Of Twitter

Launched in 2006, Twitter boasts of 217 million daily active users and a market cap of nearly $40bn. But its co-founder Jack Dorsey stepped down as CEO in November 2021. He made the chief technology officer Parag Agrawal as an acting executive. Elon Musk started tweeting about his interest in buying the company as early as 2017. With 83m followers, he is a prominent user of the app.

How Elon Musk Want To Reshape Twitter?

Elon Musk Buys Twitter At $44bn

Soon after finalizing the deal, Elon Musk announced his objective of buying Twitter. He said that he wanted to improve its functions by adding new features to it. He would make the algorithms open source to build trust, beat the spam bots, and authenticate all humans.

What … Read the rest