Elon Musk has finally sealed a deal to buy Twitter at $44 billion on Monday that will shift the control of this social media platform to his side which is populated by millions of users and global leaders.
Discussions over the deal, which last week appeared uncertain, accelerated over the weekend after Musk convinced Twitter shareholders with financing details of his offer.
Under pressure, Twitter started negotiating with Musk to buy the company at $54.20 per share price. The deal ends Twitter’s run as a public company since its 2013 initial public offering.
Parag Agrawal, Twitter’s CEO, said, “Twitter has a purpose and relevance that impacts the entire world. Deeply proud of our teams and inspired by the work that has never been more important.”
🚀💫♥️ Yesss!!! ♥️💫🚀 pic.twitter.com/0T9HzUHuh6
— Elon Musk (@elonmusk) April 25, 2022Advertisement
“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” Musk said in a statement, adding, “I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spambots, and authenticating all humans. Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it.”
A few changes are expected to be introduced in the platform after the takeover like the edit option will be introduced faster than anticipated. One more area where Musk is expected actively work is to remove spam accounts or spambots, which as per him is Twitter’s “most annoying thing”. Twitter shares went up by 6% after the takeover news broke out.
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