Elon Musk is putting his Twitter takeover on hold as he wants the company to revise some numbers, but he’s not wrapping things up completely.
Elon Musk does not own the twitter still, he decided to put the deal on hold for the time being. While Tesla’s CEO has said its Twitter takeover is far from dead, he wants to take the company some time to review specific figures before concluding the deal.
The social media company’s delivery stop is just the latest in what has been a roller coaster ride for its users. News that Musk was trying to buy Twitter first broke early last month and reactions to the deal were strong from both those who supported him and those who were against. After some initial denials that Musk was interested in such a purchase, he ended up confirming that he was making a real change for the company.
While Twitter initially fought the takeover, the two sides agreed to a very lucrative deal for the social media site’s major shareholders. However, Musk is now putting this lucrative business on hold until the company can sort out its numbers when it comes to how many of its monetizable daily active users are actually spam accounts.
Musk took to the social media platform to tweet a report from May 2, Reuters where Twitter claimed that spam accounts represented less than 5% of the site’s 226 million active users. The billionaire added that his Twitter purchase was “on hold, pending details that support the calculation” of the company’s claims that spam accounts were indeed a minor inconvenience.
It seems the part of the report that stood out to Musk was where Twitter said the number it came in when it came to spam accounts was just an “estimate”. There have also been other times when the platform has admitted that the statistics it was circulating were inaccurate, most recently when it acknowledged in an earnings report that it had over-counted its daily users for three years in a row. Its incorrect count led the company to claim that it had 1.9 million extra daily users per quarter.
Musk has made reducing the number of spambots and fake accounts one of his big public goals for when he officially takes charge of the social media giant. While the possible confusion over the official number of how many of these accounts make up daily users, he also made it clear that the agreement to take over twitter is just on hold and that he is still committed to making it work.
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