Twitter takeover plan is on hold “pending details supporting the calculation that spam/fake accounts actually represent less than 5% of users”, according to Elon Musk. The action of the social network is in free fall.
The saga around the takeover of Twitter has just experienced an unexpected twist. And for good reason, Elon Musk said in a tweet that his plan to take over the microblogging site was suspended. “pending details supporting the calculation that spam/fake accounts actually represent less than 5% of users”. In the wake of this resounding announcement, Twitter’s stock immediately crashed 25% in trading leading up to the opening of Wall Street.
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
As a reminder, the board of directors of the social network ended up accepting the American billionaire’s takeover offer for 44 billion dollars at the end of April after the raid led by the latter to afford the entire Californian company. Elon Musk, who has promised to make this platform an El Dorado for freedom of expression, also wants to increase its financial performance tenfold.
The boss of Tesla and SpaceX has thus set himself the objective of bringing the social network’s revenues to 26.4 billion dollars by 2028, against 5.1 billion dollars in 2021. The one who disputes the title of man the richest in the world with Jeff Bezos also wants to increase Twitter from 217 million daily active users to nearly 600 million in 2025, then 931 million in six years. But he still has to officially become the owner of the platform…