Twitter plans to close deal with Musk on agreed terms, originally slated for $44 billion but now worth less than $30 billion

Twitter on Thursday said it intends to close the deal with Tesla CEO Elon Musk on agreed terms.

Tesla CEO Elon Musk’s planned $44 billion deal to buy Twitter has plunged 7 percent after hours, people familiar with the matter said. Negotiations with investors have cooled in recent weeks, and Musk’s team has concluded that Twitter’s spam account data cannot be verified, people familiar with the matter said.

It is worth mentioning that foreign media reported that Musk’s $44 billion deal plan to acquire Twitter was in serious crisis.

Negotiations with investors have cooled in recent weeks, and Musk’s team has concluded that Twitter’s spam account data cannot be verified, people familiar with the matter said. In response, Twitter executives said in a briefing on Thursday that Twitter removes more than 1 million spam accounts a day, providing new insights into efforts to reduce harmful automated bots as billionaire Elon Musk asks for More details on social media companies.

Musk has previously said he would stop buying Twitter for $44 billion unless Twitter proves that spam and bot accounts account for less than 5 percent of its users.

IT House reported that Twitter announced buy app reviews on April 26 that it had accepted Musk’s $44 billion acquisition proposal. Twitter closed up about 1.52% today and fell about 4.15% after the market, with a market value of $29.643 billion.

Twitter plans to close deal with Musk on agreed terms, originally slated for $44 billion but now worth less than $30 billion

Twitter’s advertising revenue in the first quarter was $1.11 billion, compared with an estimated $1.12 billion, a year-on-year increase of 23%; subscription and other revenue totaled $94 million, down 31% year-on-year; capital expenditures in the first quarter were $163.2 million, compared with an estimated $185.4 million. The average daily active users in the first quarter was 220.9 million, an increase of 15.9%.

In addition, Twitter’s Q1 net profit was $513 million, with a net profit margin of 43%, including a $970 million pretax gain from the $1.05 billion sale of MoPub and a $331 million income tax related to the gain, compared with a net profit of $68 million in the same period last year .

Share

You Might Also Like

Leave a Reply

Your email address will not be published.