Trading on Twitter won’t progress without proof of fake accounts – The Hollywood Reporter
Elon Musk’s $44 billion deal to acquire Twitter “can’t move forward” without “evidence” for a fake account estimate that the social media giant disclosed earlier, he said. Tesla and SpaceX owners tweeted on Tuesday.
Last week, he said that the large transaction was “temporarily held pending details that support the calculation that spam/fake accounts actually represent less than 5% of users.” That comment comes after Twitter’s regulatory filing with the Securities and Exchange Commission (SEC), in which the company estimates how many “monetizable daily active users” are accounts. wrong or spam account. Twitter reported 229 million users were served ads in the first quarter, with 5% of those being 11.45 million.
“Yesterday, the CEO of Twitter publicly refused to give evidence of rates < 5%,” Musk tweeted early Tuesday. "This deal cannot go on until he does." He also said in his Twitter comment: “20% of fake/spam accounts, while 4 times what Twitter claims, could be *much* higher.”
And Musk stressed that his offer to the social giant is “based on Twitter’s SEC filings being accurate.”
Last month, Musk unveiled a $44 billion deal to take over Twitter and vowed to end its content moderation. Last week, he revealed that he’s received letters from investors pledging nearly $7.14 billion in funding for his Twitter deal and is also in talks to bring co-founder Jack Dorsey and others into the mix. Others join as investors.
