Elon Musk pauses buying Twitter to check for ‘fake accounts’

Elon Musk on May 13 announced the acquisition Twitter will pause until he gets more information about the fake accounts that exist on this social networking platform. Musk once shared that one of his priorities when acquiring Twitter will be to eliminate “spamming robots” on the platform.

Twitter estimated in April that less than 5% of daily active user accounts on the platform during the first quarter were spam or bot accounts (automated accounts). The rest they have about 229 million user accounts that can be used for advertising purposes.

Elon Musk pauses buying Twitter to check 'fake accounts' - 1

Elon Musk.

Now Musk wants the company to confirm the above number before proceeding with the deal.

According to The Verge, Twitter has had computational problems in the past. A few weeks ago, they said in an earnings report that they had mistakenly counted their daily users three years in a row. The company says a technical error resulted in the counter recognizing multiple accounts as active, even though they only had one user, and this resulted in them miscounting their users by as much as 1. ,9 million per quarter.

According to CNBC, shares of Twitter fell 18% after the buyback pause announcement was made, while Tesla rose 5%. A Twitter spokesperson did not comment.

Previously, around concerns about the deal, the value of market of Twitter fell to $9 billion.

Last month, CEO Musk announced his intention to buy Twitter for $44 billion. Also investing in this acquisition are Oracle founder Larry Ellison and venture capital firm Andreessen Horowitz. According to Bloomberg billionaire Musk will have to pay $ 1 billion if he cancels the agreement, or does not pay enough to buy as committed.

Speaking to investors, Elon Musk believes he will make up to $10 billion in revenue on Twitter from paid service Blue by 2028, more than double Twitter’s $5 billion in revenue last year. He also thinks that the number of Twitter Blue subscribers will grow to 69 million by 2025, possibly reaching 159 million by 2028.

Besides Blue, Musk’s Twitter has plans for another service called “X,” which is expected to have 9 million subscribers by 2023 and 104 million by 2028. The rest of the total revenue. expected revenue of the social network “blue bird” is expected to be collected from advertising.

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