Twitter had agreed to sell the company to Elon Musk for around $44 billion.
The former chief executive and co-founder Jack Dorsey stated that the CEO of Tesla Motors, Elon Musk’s takeover, is the “singular solution” that means there may be no co-investor. But now, the two big questions are who will run Twitter and how? Remain unanswered.
Here in the post, we have mentioned everything we know and don’t know yet about one of the most amazing buys.
Now, Who Will Run Twitter?
On Monday, Twitter agreed to sell itself to Elon Musk. So we know a lot, and we are still trying to find plenty. So let’s kick off first with what we don’t know.
What We Still Don’t Know?
Twitter said Musk paid about $21 billion from his pocket to buy the company, but there were no updates on where it would come from. But now, as the deal has turned friendly, private equity firms may be more likely to hereabout.
Some existing shareholders could take an account to roll their Twitter stakes into a private company. The reason is that Tesla’s CEO might not be on the hook for much of the money himself.
Who will be going to run Twitter?
Both Chairman Bret Taylor and CEO Parag Agrawal quoted the deal on Monday and stated that they are still in their roles – for now on Twitter.
Jack Dorsey, Former Twitter ECO, clearly supports Elon Musk’s takeover. He tweeted, “In principle, I don’t believe anyone should own or run Twitter. It wants to be a public good at a protocol level, not a company. However, solving the problem of it being a company, Elon is the singular solution I trust. I trust his mission to extend the light of consciousness.”
How will Musk run it?
Elon Musk has shared his plan to make Twitter a haven for unrestrained speech. He may also add an edit button, remove ads for paid users, and will tighten the platform’s authentication checks.
What We Know!
Who’ll own Twitter?
Twitter agreed to sell itself to a single entity by Musk. There will be no co-investors named in the statement, and there will be no more than minority stakeholders.
About the price.
Elon Musk’s original bid was $54.20 per share. This was its “best and final offer.” In addition, he stuck to that promise, stating the all-cash deal for exactly that amount.
Elon Musk revealed he had raised $25.5 billion in loans from multiple banks to back the bid.
What Changes Could the World Expect?
Twitter is usually inundated with topics for discussion, but over the past few days, one has stood out on Twitter above others.
Elon Musk is set to purchase Twitter – subject to shareholders’ approval for – £35bn, tweeters across the globe showcasing their opinions. But, of course, no one has any idea exactly what the billionaire has planned. Even Twitter CEO Parag Agrawal has acknowledged that the future is uncertain. But the world’s richest entrepreneur has shed some clues.
- Loosen content rules
Musk has criticized the platform’s content policies. And this is a guess that he could tweak Twitter’s moderation rules and let suspended accounts return. But, as his takeover was approved, the billionaire said that free speech was the “bedrock.”
- No more adverts
Musk wrote – “The power of corporations to dictate policy is greatly enhanced if Twitter depends on advertising money to survive.”
After becoming Twitter’s largest shareholder, Elon Musk posted a series of now-deleted tweets suggesting that he likes to get rid of adverts on Twitter’s premium subscription service.
Moreover, the billionaire entrepreneur has mentioned advertisers’ influence over Twitter policy. Currently, Twitter relies on adverts for about ninety percent of its revenue.
Twitter said that its income touched the mark of $1.57bn, with adverts making up $1.4bn, i.e., 22 percent is year-on-year.
Elon Musk has suggested that improvements may be made to Twitter Blue, which can be used as an alternative source of income. He also said that he wants to reduce its cost.
The service, which launched last year and is available in the US, Canada, New Zealand, and Australia, gives users access to extra features like an “undo Tweet” button.
- Ensure real users
Twitter has long had an issue with automated, fake accounts being used to post unhelpful or misleading content relentlessly. Robin Mansell, professor of new media and the internet at the London School of Economics, says there will “always be errors” in the authentication of users by humans or algorithms.
- Editing tweets after posting
Before his bid for Twitter, Mr. Musk asked his followers if they wanted an edit button in a Twitter poll.