Skip to main content

Elon Musk Places On Hold His Quest To Aquire Twitter


The world richest man, Elon Musk said he is putting his bid to acquire Twitter (TWTR) on hold, weeks after agreeing to take the company private in a $44 billion deal.

"Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users," Musk tweeted on Friday.

The news initially sent Twitter shares down more than 20% in premarket trading before the stock rebounded somewhat. Two hours after his first tweet, Musk posted that he is "still committed to acquisition."

In its quarterly financial report, released on April 28, Twitter estimated that fake or spam accounts made up fewer than 5% of the platform's active users during the first three months of the year. Twitter noted that the estimates were based on a review of sample accounts and it believed the numbers to be "reasonable."

But it acknowledged that the measurements were not independently verified and the actual number of fake or spam accounts could be higher.

Twitter has had a spam problem for years, and the company has previously acknowledged that reducing fake and malicious accounts would play a key factor in its ability to keep growing. It's unclear why Musk would back away from the deal because of the latest disclosure.

Source:CNN Business


Comments

Popular posts from this blog

Jeff Bezos With GF Lauren Sanchez At The Miami Grand Prix

On Sunday, 06 May 2023, Jeff Bezos and his girlfriend of almost four years, Lauren Sánchez were at the F1 Miami Grand Prix. Jeff Bezos And Lauren Sanchez Top Left At The F1 Miami Grand Prix, Qualifying, Miami International Autodrome, Miami Gardens, Florida, USA – 06 May 2023 Lauren Sanchez, 53, a former Newscaster, was spotted in a crop top and jeans alongside her billionaire boyfriend Jeff Bezos, 59, in Miami, while attending the Miami Grand Prix. They held hands as they arrived at the Formula One Grand Prix event. Jeff Bezos with a net worth of US$125 billion as of April 2023, arrived in the team village at the Formula 1 Crypto.com Miami Grand Prix in Miami, Florida on May 6, 2023. Bezos is the third-wealthiest person in the world and was the wealthiest from 2017 to 2021, according to both the Bloomberg Billionaires Index and Forbes. Credit: Hollywood life.com, Wikipedia

The CBN Reverses Its Decision And Sets New Limit On New Naira Note Withdrawal

The Central Bank of Nigeria had initially stopped the withdrawal of the new Naira notes over the counter, directing commercial banks to instead dispense the cash through their Auto Teller Machines (ATM) to the public. Thursday, 2, February 2023, the apex bank has now backtracked on that decision, it is informing the commercial banks to resume over-the-counter withdrawal of the new N200, N500 and N1,000 notes. The Central Bank of Nigeria, has set a new directive of a maximum daily payout limit of N20,000, consisting of redesigned Naira notes, to each customer.  “In line with this resolve, the Governor, Mr Godwin Emefiele, has directed deposit money banks (DMBs) to commence the payment of the redesigned Naira notes over the counter, subject to a maximum daily payout limit of N20,000.  “We also admonish members of the public to embrace and adopt other payment channels for their transactions.  “The Naira is our legal tender and symbol of national pride. Therefore, let us resp...

GIST!

Music superstar, David Adedeji Adeleke with the stage name Davido, has paid the bride price of his fiancée Chioma Avril Rowland aka Chef. Davido and his family members, reiterated their intentions to marry Chioma by paying her bride price in full, in the presence of her entire family. Photos from Chioma's bride price payment have surfaced online. Chioma's dad can be seen in photos taking charge of things at the meeting. The yams, drinks, and other items were presented.