Elon Musk says Twitter deal ‘on hold’ after spam/fake account report
Illustration by Kristen Radtke / The Verge; Getty Images Elon Musk says his deal to buy Twitter is “temporarily on hold” after the social network reported that false or spam accounts comprised less than 5 percent of its 226 million monetizable daily active users. The Tesla CEO, who offered to buy twitter for $44 billion, tweeted a link to a May 2nd Reuters report on Twitter’s filing, saying he wants to see the company’s calculations. “Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,” Musk tweeted. As of this writing, Twitter’s share price had plunged 19 percent on the news, while Tesla is up 5 percent. Below is the relevant section of Twitter’s filing. It notes that its calculations about the number of... Continue reading…
Elon Musk says his deal to buy Twitter is “temporarily on hold” after the social network reported that false or spam accounts comprised less than 5 percent of its 226 million monetizable daily active users. The Tesla CEO, who offered to buy twitter for $44 billion, tweeted a link to a May 2nd Reuters report on Twitter’s filing, saying he wants to see the company’s calculations.
“Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,” Musk tweeted.
As of this writing, Twitter’s share price had plunged 19 percent on the news, while Tesla is up 5 percent.
Below is the relevant section of Twitter’s filing. It notes that its calculations about the number of...
