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  /  Latest News   /  Musk Now Hints to Buy Twitter at a Lower Price! But the Boss is Not Happy
Twitter

Musk Now Hints to Buy Twitter at a Lower Price! But the Boss is Not Happy

Musk proposes to purchase Twitter for US$44 billion yet he brings down the bid amid controversies

The Tesla and SpaceX CEO and the world’s richest man, Elon Musk initially proposed to purchase Twitter for US$44 billion, the social media platform, where he has about 91.8 million followers. Musk is going to be “interim CEO” if he actually does buy Twitter, and understandably, the whole world is divided in this row. Twitter shareholders have agreed to sell Twitter to Musk for US$44 billion.

Later Elon Musk disclosed his 9.2% stake in the platform, and after some days Musk announced his “best and final” offer to buy Twitter for US$54.40 a share. A few ongoing reports recommend that Elon Musk intends to pay significantly not as much as what he had first pitched to purchase the famous microblogging stage and Elon Musk said that an arrangement at a lower cost isn’t impossible. This likewise alludes to additional dramatization among Musk and Twitter going ahead. Musk declares this decision amid controversies that allege that Twitter’s algorithms are manipulative and that he wishes to see the real reports that comprise the number of fake accounts and ‘bots’ that are dominating the platform. Well, this is not boding well for the reputation of Twitter.

 

Musk offered to buy Twitter at a lower price

Elon Musk, the CEO of Tesla and SpaceX offered a US$44 billion arrangement to purchase Twitter after a fight over bots representing under 5% of its total clients, within hours in the wake of proposing he could look for a lower cost to buy the platform. This arrangement depended on Twitter’s SEC filings being exact. Twitter CEO Parag Agrawal expressed, requesting confirmation the organization’s evaluations are precise.

Twitter shares briefly pared losses in afternoon trading. The stock has been dropping since investors worry that Musk could leave the US$44 billion acquisition altogether. This concern has developed over the weeks as Elon Musk has scrutinized Twitter’s openly unveiled information on the level of spam and phony records on its social media service.

Elon Musk’s bid to buy Twitter was temporarily on hold due to pending details about how many spam and fake accounts are on the platform. Throughout the end of the week, he tweeted that Twitter’s lawful group called to whine that he had disregarded their non-revelation understanding. Twitter executives have declined to remark.

Musk has pledged changes to Twitter’s content moderation practices, railing against decisions like the company’s ban of former President Donald Trump as overly aggressive while pledging to crack down on spambots on the platform.

Twitter CEO Agrawal said, Twitter’s gauge, which has remained something similar starting around 2013, couldn’t be replicated remotely given the need to utilize both public and private data to decide whether a record is a spam.

The deal comes at a wild time for Twitter. The organization has attempted to extend both its client base and its advertisement deals as it competes with bigger social media organizations. It reported the flight of two senior leaders close by a recruiting freeze.