![]() Below are the main reasons that led Elon Musk to abandon the deal. Musk's lawyer discusses this problem in detail. Why Did Elon Musk Cancel The Twitter Deal?Įlon Musk decided to abandon the proposed deal because of an apparent failure by Twitter to provide him with data related to spam accounts on the platform. In this article, I will focus on addressing some of the questions raised by investors. Confirming these fears, Elon Musk sent a letter to the Board of Directors of Twitter on July 8 stating his decision to back off on the proposed acquisition.Īs a shareholder of Twitter or even as an investor who has been waiting on the sidelines monitoring these developments, it's understandable to be in a confused state about the future of Twitter. Twitter stock surged from less than $40 to over $50 in April with this development, but this momentum was soon lost when the market realized that the deal could come under pressure not just because of regulatory scrutiny but also because of Mr. With the aim of privatizing the company, Twitter's Board of Directors accepted this offer on April 25. Musk acquiring just over 9% of Twitter shares publicly in the weeks that led to this announcement. ( TWTR) for approximately $44 billion, and this announcement came on the back of Mr. On April 14, Elon Musk announced a deal to acquire Twitter, Inc. ( TSLA ) private, Elon Musk has been making headlines for all the wrong reasons in addition to all the right reasons such as turning Tesla profitable. From smoking weed on the Joe Rogan Podcast to Tweeting about taking Tesla, Inc. Musk himself have faced difficulties because of these controversies. I'm not sure whether that should be looked upon as a good thing or a bad thing, but what I do know is that both investors and Mr. was taken private.Elon Musk is known for many things, including his consistency in creating controversies. was founded in 2006 and is based in San Francisco, California. Further, it offers products for developers and data partners comprising Twitter Developer Platform, a platform that enables developers to build tools for people and businesses using its public application programming interface and paid access to Twitter data for partners with commercial use cases. In addition, the company offers monetization products for creators, including Tips to directly send small one-time payments on Twitter using various payment methods, including bitcoin Super Follows, a paid monthly subscription, which includes bonus content, exclusive previews, and perks as a way to support and connect with creators on Twitter and Ticketed Spaces to support creators on Twitter for their time and effort in hosting, speaking, and moderating the public conversation on Twitter Spaces. Its promoted products consist of promoted ads and Twitter Amplify, Follower Ads, and Twitter takeover. It also provides promoted products that enable advertisers to promote brands, products, and services, as well as enable advertisers to target an audience based on various factors, including who an account follows and actions taken on its platform, such as Tweets created and engagement with Tweets. The company's primary product is Twitter, a platform that allows users to consume, create, distribute, and discover content. operates as a platform for public self-expression and conversation in real-time.
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