Elon Musk’s $44 billion Twitter deal in serious trouble: Report

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Media reports say tech billionaire Elon Musk’s offer to buy microblogging platform Twitter for $44 billion is in serious trouble.

According to The Washington Post, Musk’s deal to buy the platform is “in jeopardy” — based on three unnamed sources who told the paper that the billionaire’s camp “stopped engaging in some discussions around funding” for the deal. Is”.

Musk isn’t going it alone in his attempt to buy Twitter, with Larry Ellison, venture capital firm Andreessen Horowitz among others pitching in billions such as Fidelity, crypto exchange Binance and Qatar’s state investment firm. The Verge cited the report as part of the effort.

The report said that the idea that a “drastic” change of direction on the deal is close to occur is that Twitter’s data about spam and bots on the platform is believed to be non-verifiable.

Twitter held a conference call with media outlets just hours after the report revealed that its spam account data and technology to block bots was fine, setting off a showdown between the company and its new owner.

The platform reportedly claimed that it blocks 1 million spammers every day.

Last month, Musk said he could pull out of his $44 billion acquisition deal if Twitter fails to provide data on spam and fake accounts.

In an SEC filing, Twitter shared a letter it received from Musk’s legal team that was unhappy with the information the company offered about the level of “spam and fake accounts” on the company’s service.

The letter said more data on non-human users of Twitter, both natural and spam (and not an explanation of how the existing data was collected) is important to help close the transaction from a financial standpoint.

— IANS

Serious trouble after Elon Musk’s $44 billion Twitter deal: Report first surfaced on BGR India.



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