Twitter CEO expects Musk acquisition to be completed
Twitter CEO Parag Agrawal expected that the deal to sell the company to Elon Musk would be successful, declaring at the same time that he would continue to run the company if the opposite happened.
"While I expect the deal to go through, we have to prepare for all scenarios and always do what's right for Twitter," Agrawal said in a tweet. I am responsible for leading and operating the platform, and our job is to make it stronger every day.”
Musk had tweeted that the deal is on hold until more details are revealed about the number of fake accounts on the social media platform. This led to a 10% decline in the stock, wiping out about $13 billion in the value of the company.
Can Elon back out of Twitter?
CNBC said that Elon Musk cannot cancel his deal to acquire Twitter by paying the agreed-upon contract cancellation fee of one billion dollars, it is not that simple.
The first victim of Elon Musk on Twitter received the news while he was on paternity leave
A spokeswoman for the group confirmed to "AFP" that the head of consumption, Kavonne Bikbor, and the head of revenue-generating products, Bruce Falk, "have left Twitter."
Twitter announced Thursday the departure of two of its chief executives and the suspension of all non-essential appointments in the midst of Elon Musk's acquisition of the group.
And the businessman wants to make the network a bastion of free speech, indicating, for example, Tuesday, that he is ready to lift the permanent suspension of Donald Trump's account, which was decided after the attack on the Capitol building.
Regarding the group's work, he also mentioned an end to random posts, comments and advertisements, and promised that algorithms would be "open source" with diversifying sources of income without yet announcing an overarching strategy.
According to the New York Times, Elon Musk claimed in a presentation to investors that he could increase the company's revenue five fold by 2028, dramatically increase subscription revenue and raise the number of active users from 217 million at the end of 2021 to 931 million in 2028.
The Golden State is cooking its golden geese
— Elon Musk (@elonmusk) May 15, 2022