Tesla’s CEO, Elon Musk, has put the multi-billion dollar deal with Twitter on hold. He has now decided to take action against this fake accounts or called as bots of the site. Consequently, Musk tweeted on Friday that his 44 billion cash deal for Twitter Inc was on hold temporarily. However, he was
waiting for the social media company to provide data on the numbers of its fake accounts.
Twitter’s share price was dropped today.
The social media company’s shares dropped 9.67 percent which was close to US$40.72.
Initially, the Tesla CEO announced that he was going to buy Twitter in a US$44-billion deal. Musk also offered US$54.40 per share and planned to take the company privately. After signing the 44 billion deal with Twitter, Musk tweeted that one of his main work is to remove the “spam bots” from the platform.
But today, he stated that this deal is “temporarily on hold”. Musk said that the deal is pending because he wanted the details of spam and fake accounts. Consequently, to make the calculation that spam and fake accounts represent fewer than 5% of Twitter users. Hence, he tweeted declaring, “The bots are angry about being counted.” Also, many are saying that Musk may be trying to back out from the deal because of the recent drop in Tesla’s share price.
Consequently, Twitter has invested more in clearing out the spam accounts. In 2018, Twitter purchased Smyte, which specialises in spam prevention, safety and security. By this Twitter removed many of the spammed and suspicious accounts to improve the platform.
The bots are angry at being counted 🤣
— Elon Musk (@elonmusk) May 14, 2022
