Musk's $44 bn Twitter deal in serious trouble
Elon Musk, a tech tycoon, reportedly data-faces severe obstacles in his bid to pay $44 billion for the microblogging service Twitter. According to three unnamed individuals who told The Washington Post that the billionaire's camp has "stopped engaged in certain negotiations regarding funding" for the arrangement, Musk's deal to purchase the platform is "in risk."
According to the article, Larry Ellison, the venture capital firm Andreessen Horowitz, Fidelity, the cryptocurrency exchange Binance, and the state investment firm of qatar are among those contributing a few billion dollars to Musk's attempt to acquire Twitter. The report claimed that worries that Twitter's statistics on spam and bots on the network is not verified have led to the belief that a "drastic" change in the deal's course is imminent.
The information was released shortly after twitter held a conference call with media representatives to explain that its spam account data and bot-blocking technology are perfectly good, setting up a confrontation between the organisation and its prospective new owner. According to reports, the platform claims to stop 1 million spammers each day. Musk said last month that he would break his $44 billion acquisition agreement with twitter if the social media platform refuses to provide information on spam and phoney accounts.
According to the article, Larry Ellison, the venture capital firm Andreessen Horowitz, Fidelity, the cryptocurrency exchange Binance, and the state investment firm of qatar are among those contributing a few billion dollars to Musk's attempt to acquire Twitter. The report claimed that worries that Twitter's statistics on spam and bots on the network is not verified have led to the belief that a "drastic" change in the deal's course is imminent.
The information was released shortly after twitter held a conference call with media representatives to explain that its spam account data and bot-blocking technology are perfectly good, setting up a confrontation between the organisation and its prospective new owner. According to reports, the platform claims to stop 1 million spammers each day. Musk said last month that he would break his $44 billion acquisition agreement with twitter if the social media platform refuses to provide information on spam and phoney accounts.