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In 2021, Twitter posted worldwide revenue of more than $5 billion.
Elon Musk agreed to pay $44 billion for the site in April, an act that is now in dispute.
The story between Elon Musk and Twitter continues to be news in recent days. This Monday it was announced that the majority of the shareholders of the social network they voted in favor of the sale to the CEO of Tesla for 44 billion dollars.
Recall that in April, Musk offered 44 billion dollars for Twitter, but a couple of months later he gave up, alluding that the network has many more bot and fake accounts than officially supported ones.
This movement is due to the fact that Twitter is one of the most important social networks in the world and, According to data from its annual report, this 2022 has captured global revenues of more than 5 billion US dollars, compared to 3.72 billion dollars the previous year.
This Monday, between a count of the case of Musk and Twitter, it was announced that the majority of the shareholders of the social network voted in favor of the sale of the company. According to sources, the deadline for a shareholder vote on the deal is this Tuesday, but enough investors had already voted for the resolution before the official announcement.
In that sense, Musk has informed the digital platform that he will not go ahead with the acquisition, arguing that he was deceived about the spam accounts and was not notified of a payment agreement that the company reached with one of its main executives. The two sides are scheduled to meet in court next month.
Shareholders were widely expected to vote in favor after a stock market downturn made Musk’s $54.20-per-share deal, which was signed in April, look expensive in the current environment, with shares in the little bird’s social network are now around $41.
Twitter also said the payments made to a whistleblower did not violate any terms of its sale to Musk, after the world’s richest man made another attempt to cancel the deal.
Twitter’s lawyers said Musk’s reasons for wanting to withdraw from the deal were “invalid and unfair.”
It is worth mentioning that last week, Musk’s lawyers said that Twitter’s failure to seek his consent before paying $7.75 million to whistleblower Peiter Zatko and his lawyers violated the merger agreement, which restricts When can these payments be made?
Zatko, who was fired in January as Twitter’s chief security officer, accused the social media company of falsely claiming it had a strong security plan and making misleading claims about its defenses against hackers and spam accounts.
This new action gives another perspective to this event that I consider important for many industries, especially technology and it seems that more information will emerge every day.
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