Business

Elon Musk puts Twitter deal temporarily ‘on hold’ over fake user accounts

Musk posted a link to an earlier Reuters story that reported that Twitter estimates spam, and fake accounts comprise less than 5 percent of users

PGurus Newsdesk

May 13, 2022

Musk posted a link to an earlier Reuters story that reported that Twitter estimates spam, and fake accounts comprise less than 5 percent of users

Twitter share plunges 19% after Elon Musk puts the $44 billion ‘on hold’

Tesla CEO Elon Musk shocked everyone with his tweet on Friday in which he said that he has put the $44 billion Twitter deal temporarily on hold till he gets to know how many fake or spam accounts are present on the micro-blogging platform. Twitter’s share price plunged 19 percent on the news of the deal being put on hold.

“Twitter deal temporarily on hold pending details supporting calculation that spam/ fake accounts do indeed represent less than 5 percent of users,” Musk said in a tweet to his over 92 million followers.

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

Musk posted a link to an earlier Reuters story that reported that Twitter estimates spam, and fake accounts comprise less than 5 percent of users.

Twitter estimated in a filing earlier this week that false or spam accounts represented fewer than 5 percent of its monetizable daily active users during the first quarter. The micro-blogging platform had 229 million users in the first quarter.

The disclosure came days after Tesla Inc CEO Elon Musk, who has inked a deal to buy Twitter for $44 billion, tweeted that one of his priorities would be to remove “spambots” from the platform.

Musk has signed a $44 billion deal to take over Twitter, of which he will pay $21 billion from his own pocket while the rest will come as a loan from a consortium of banks.

[With Inputs from IANS]

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