Elon Musk’s ultimatum to Twitter CEO Parag Agarwal

Until the deal goes ahead ...: Elon Musk's ultimatum to Twitter CEO

Elon Musk has announced that the-44 billion takeover bid of micro-blogging site Twitter has been suspended.

Elon Musk said Tuesday that his $ 44 billion offer, unless Twitter Inc. shows evidence that spam bots are less than 5% of its total users, could ask for a lower price for the company hours after the suggestion.

“My offer was based on the accuracy of Twitter’s SEC filing. Yesterday, the CEO of Twitter publicly refused to show <5% (spam account) evidence. The deal cannot proceed unless he does," Musk said in a tweet.

After suspending his offer last week with pending spam account information, Musk said he suspected they had at least 20% of users – compared to Twitter’s official estimate of 5%.

“You can’t pay the same price for something much worse than they claim,” he said at the All-in-Summit 2022 conference in Miami on Monday.

Asked if the Twitter deal would work at a different price, Musk told the conference: “I mean, it’s not out of the question. The more questions I ask, the more my anxiety increases.”

“They claim that they have this complex mechanism that only they can understand … It cannot be some deep mystery that could be more complex than the human soul or something like that.”

The stock closed at $ 37.39, down more than 8% on Monday, raising suspicions that the billionaire entrepreneur would go ahead with its acquisition at a reasonable price, less than its level the day before Musk released its Twitter shares in early April.

Twitter chief executive Parag Agarwal tweeted on Monday that internal estimates of spam accounts on social media platforms had been “below 5%” in the last four quarters, in response to days of criticism from Musk about the company’s handling of fake accounts.

Twitter estimates, which have remained the same since 2013, cannot be reproduced externally due to the need to use both public and private information to determine whether an account is spam, Agarwal said.

Kasturi responds to Agrawal’s approach with a pop emoji. “So how do advertisers know what they’re getting for their money? It’s fundamental to Twitter’s financial health,” he wrote.

Musk has vowed to change the content of Twitter to moderation practices, protesting against decisions such as former President Donald Trump’s ban, as well as being highly aggressive with his promise to crack down on “spam bots”.

Twitter users have been asked to test random samples to detect mask bots. “There is a possibility that this could be more than 90% of the daily active users,” he said.

Independent researchers estimate that 9% to 15% of the millions of Twitter profiles are bots. Spam bots or fake accounts are designed to artificially increase activity on social media platforms like Twitter.

Twitter currently does not require users to register using their real identities and explicitly allows automated, parody and pseudonymous profiles.

It prohibits camouflage and spam and penalizes accounts when it determines that their purpose is to “deceive or manipulate others” by engaging in scams, coordinating abuse campaigns, or artificially engaging.

Mask’s comments to a private audience may raise concerns about the disclosure of his market-driven information.

Musk, known for his outspoken Twitter posts, has a long history of clashes with the US Securities and Exchange Commission. Recently, a U.S. judge reprimanded him for trying to evade a settlement with the SEC for monitoring his Tesla tweets.

(Except for the title, this story was not edited by NDTV staff and was published from a syndicated feed.)

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