Elon Musk's Twitter takeover 'on hold'; Know WHY

Twitter Inc filed an estimation that spam accounts represented less than 5 per cent of its total monetisable daily active users during the first quarter. 

Before the filing took place the social media giant had an active 229 million users who were served with advertising in the first quarter.

This disclosure seeped in days after Tesla Inc CEO Elon Musk who was willing to close the deal of the acquisition of Twitter for $44 billion. He had tweeted that one of his priorities will be shunning down the bot and spam accounts from the microblogging site.

Twitter said in the filing it faced several risks until the deal with Musk is closed, such as whether advertisers would continue to spend on Twitter and “potential uncertainty regarding our future plans and strategy.”

Elon Musk has recently tweeted a report from Reuters saying, “Twitter deal temporary on hold pending details supporting calculations that spam/fake accounts do indeed represent less than 5% of users.”


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