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Musk's Twitter Deal In Serious Trouble
MEDIA REPORTS SAY THAT Tesla CEO Elon Musk's offer to buy the microblogging platform Twitter for $44 billion is in serious trouble. As per The Washington Post, Musk's deal to buy the forum is "in peril" -- based on three anonymous sources who told the paper that the billionaire's camp has "stopped engaging in certain discussions around funding" for the agreement.
Among those pitching in a few billion as part of the effort is Larry Ellison, the venture capital firm Andreessen Horowitz, Fidelity, Binance, and Qatar's state investment firm, according to the report, The Verge.
The idea that a "drastic" change of direction on the deal is close to happening is supposedly due to concerns that Twitter's data regarding spam and bots on the platform is not verifiable, the report said.
Just hours ago, Twitter held a conference call with media outlets to explain that its spam account data and technology for blocking bots are fine, setting up a showdown with its prospective buyer.
The platform reportedly claimed that it blocks 1 million spammers every day.
Last month, Musk stated that if Twitter fails to give data on spam and fake accounts, he might walk out of his $44 billion acquisition agreement.
In an SEC filing, Twitter had shared a letter from Musk's legal team indicating displeasure with the company's offered information regarding the level of "spam and fake accounts" on its service.
As far as financing is concerned, Twitter's non-human users, both natural and spam, need more data (and not just an explanation of how the existing data was gathered).
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