Something that is well known is that a few weeks ago Elon Musk canceled your purchase to the social network Twitter, this is due to the lack of compliance with some statutes by the company. Since then, its revenues have decreased by 1%, and as a consequence approximately $1,180 million dollars have been lost.
Given this, Twitter noted two main reasons why the results were presented. The first was the somewhat unsettling macroeconomic picture and its impact on the inter-network advertising industry. For its part, it points to the controversy that has arisen around the public purchase offer made by the tycoon and character already mentioned.
This is what a company spokesperson said:
All of this has been reflected against the ad industry associated with the macro environment, as well as the uncertainty related to the pending acquisition of Twitter by an affiliate of Elon Musk.
Recently, Twitter is suing Musk for trying to back out of the $44 billion deal to acquire the company, which the two sides agreed to on April 25.
He reiterated in his complaint that the actions of Musk they have “tarnished Twitter and its business.” In court on July 19, Twitter’s lawyers called for an expedited trial, arguing that “continued uncertainty…inflicts damage on Twitter every hour of every day.”
For now the media case is not over.
Via: Quartz