Elon Musk Says Twitter Acquisition 'on Hold'

From Blazeposted 2 weeks ago

Article Summary

Elon Musk announced on Friday that the deal to purchase Twitter is “temporarily on hold.” The Tesla CEO claims that the hold-up is because he is questioning how many spam and fake accounts are actually on Twitter.

Musk tweeted, “Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users.”

He added, “Still committed to acquisition.”

Musk shared a Reuters article from May that stated, “Twitter Inc. estimated in a filing on Monday that false or spam accounts represented fewer than 5% of its monetizable daily active users during the first quarter.”

Twitter released its quarterly financial report on April 28, which estimated the number of false or spam accounts.

“We have performed an internal review of a sample of accounts and estimate that the average of false or spam accounts during the first quarter of 2022 represented fewer than 5% of our monetizable daily active usage or users (mDAU) during the quarter,” the report stated. “The false or spam accounts for a period represents the average of false or spam accounts in the samples during each monthly analysis period during the quarter.”

However, Twitter conceded, “In making this determination, we applied significant judgment, so our estimation of false or spam accounts may not accurately represent the actual number of such accounts, and the actual number of false or spam accounts could be higher than we have estimated.”

 

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