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

Covid-19 Vaccines- Your Options

CDC recommends people not get J&J vaccine if Pfizer, Moderna are available. CDC Director Dr. Rochelle Walensky signed off on language that says the mRNA vaccines from Pfizer and Moderna are the "preferred" options over Johnson & Johnson's. People shouldn’t get the Johnson & Johnson Covid-19 vaccine when the Pfizer-BioNTech and Moderna shots are available, the Centers for Disease Control and Prevention said Thursday. The recommendation, from CDC Director Dr. Rochelle Walensky, came hours after members of the agency's Advisory Committee on Immunization Practices voted in favor of the guidance. The panel convened following an update from the Food and Drug Administration on the risk of rare but potentially life-threatening blood clots linked to the Johnson & Johnson vaccine. At least 54 people in the U.S., most of them women, have been hospitalized by the blood clots, and nine people have died. "Today’s updated recommendation emphasizes CDC’s commitm...

APC Convention Holds 26th March 2022

The All Progressives Congress (APC) ha s now scheduled it's National Convention for..,. The convention will now hold on March 26, the date earlier slated for the conduct of its zonal congresses. Sen. John Akpankudohede, National Secretary, CECPC, APC said this when he spoke with newsmen shortly after the committee’s closed-door meeting in Abuja on Monday. "Activities for the National Convention would commence on February 24," Akpankudohede said.

Israel To Pump Water From The Mediterranean sea, To Top Up The Sea Of Galilee

The Sea of Galilee, Israel, despite its name, the Sea of Galilee in northern Israel is actually a freshwater lake, and it's one that has sustained life for millennia. Even today, the lake irrigates vineyards and local farms that grow everything from green vegetables to wheat and tangerines. Its archeology, hot springs and hiking trails bring tourism and livelihoods for local communities. But this place of religious pilgrimage — where the New Testament says many of Jesus' miracles were performed — is facing a bleak future, CNN reports. The climate crisis is causing huge fluctuations in the lake's water levels. Now it happens to be fairly full, but just five years ago, it hit a record low. Climate change and unsustainable water management are leaving lakes dried up all over the Middle East and beyond, but the Israeli government is hopeful it has a solution: It plans to pump water from the Mediterranean sea, take the salt out of it and send it across the country to top up th...

Welcome To Echo Blog

Search This Blog