Elon Musk says Twitter deal on hold as spam account report is investigated

What just happened? It appears that Elon Musk’s $44 billion acquisition of Twitter could be in jeopardy. The world’s richest person just announced that the deal is “temporarily on hold” until he has confirmation that spam and fake accounts on the site really do represent less than 5% of its userbase. Musk tweeted the announcement earlier today along with a link to a Reuters report from May 2. The article revealed the statistic was in a company filing made to financial regulators. Twitter claimed that false or spam accounts represented fewer than 5% of its monetizable daily active users during the first quarter. Still committed to acquisition — Elon Musk (@elonmusk) May 13, 2022 Musk never said precisely how he plans to validate Twitter’s findings or why he doubts them. It could be related to recent revelations that Twitter overinflated monetizable daily active user (mDAU) counts between 2019 and 2021, something it claims was done in “error.” Musk followed the announcement with a tweet confirming he was still committed to the acquisition, but that hasn’t stopped Twitter shares from falling about 15% on the back of the news while Tesla shares were up 6%. If Musk did walk away from… Read full this story

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