Elon Musk has confirmed that his Twitter deal is officially on hold.
The reason cited is that they want to make sure that the Twitter claim that less than 5% of users are bots is true.
Still committed to acquisition
— Elon Musk (@elonmusk) May 13, 2022
Twitter Inc(TWTR.N)estimated in a filing on Monday that false or spam accounts represented fewer than 5% of its monetizable daily active users during the first quarter.
The social media company had 229 million users who were served advertising in the first quarter.
The disclosure came days after Tesla Inc (TSLA.O) Chief Executive Elon Musk, who has inked a deal to buy Twitter for $44 billion, tweeted that one of his priorities would be to remove “spam bots” from the platform.
Twitter stock tumbled after this.
BREAKING 🚨 Twitter stock trading down 23% in the pre-market, on the news that Elon Musk and Twitter deal is on hold https://t.co/mObQ4QIZvj pic.twitter.com/9wIfHBNAF5
— Insider Paper (@TheInsiderPaper) May 13, 2022
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