Twitter Deal On Temporal Hold – Elon Musk

Twitter Deal On Temporal Hold - Elon Musk
Elon Musk, the billionaire, has announced that his acquisition of Twitter has been put on hold pending 
confirmation of calculation that spam or bogus accounts account for less than 5% of the companies users.
Musk was responding to report that Twitter estimated that during the first quarter, fraudulent or spam accounts accounted for less than 5% of its monetizable daily active users.
“Twitter contract on hold temporarily seeking details supporting computation that spam/fake accounts do indeed comprise fewer than 5% of users,” he wrote on Twitter.

Twitter Filing

Twitter said in filing on Monday that fraudulent or spam accounts accounted for fewer than 5% of its monetizable daily active users in the first quarter. The social networking company advertised to 229 million users in the
 first quarter.

The news came only days after Elon Musk, the CEO of Tesla Inc (TSLA.O), who has agreed to acquire the company for $44 billion, stated that one of his top goals would be to get rid of “spambots” from the network.

Until the transaction with Musk is finalized, the company faces various risks, including whether advertisers will continue to spend money on Twitter and “possible ambiguity surrounding our future objectives and strategy,” according to the document.

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