Elon Musk Buys Twitter For $44 Billion – Was it Worth?
Elon Musk Buys Twitter:
Breaking News: Elon Musk buys Twitter, The Richest Person in the world Acquires 100% Ownership of Twitter for $44 Billion and plans to make it a better Micro-blogging platform for the masses, Only time will tell which route Twitter follows, Read the complete story below.
After Elon gave his best and final offer of $43 billion two weeks ago, reports came out that Twitter and Elon Musk were in talks of the buyout offer. Elon Musk wants to make this platform more trustworthy and safe for future civilization. He was going to reconsider his position as a shareholder if Twitter rejects his offer but now, Twitter has finally accepted the buyout offer for $44 billion at $54.20 per share in cash. Both the parties have finally closed the deal and Elon Musk is ready to takeover Twitter after buying the 100% of the company.
Previous Story: Elon Musk Offers $43 Billion To Buy Twitter
“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated. I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans. Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it,” Elon Musk in a statement posted on Twitter after closing the $44 billion deal.
Elon Buys Twitter, Now What?
Now that Elon Musk has acquired 100% of Twitter, we are wondering what’s going to happen next. Since he made that offer, he has mentioned his motive behind buying the platform which is “free speech” and principles of democracy.
Elon Musk saw tremendous potential in Twitter, as mentioned in his filing, and he wants to unlock new doors for the platform and enhance the product with new features and make the system more trustworthy and safe for the future civilization. Talking about product enhancement, Elon Musk asked people “Do you want an edit button“? in a poll on Twitter and it’s high time Twitter introduces the edit feature on the platform. Seeing the tweet and now the takeover, we may soon receive the edit feature on the platform.
Source>> Twitter
The Chairman of Twitter Bret Taylor said that they have analyzed and assessed the offer and the reason for accepting the offer is that it could be the the best path for Twitter’s shareholders. Despite Twitter’s influence in the market, it has been barely making profits unlike other platforms such as Facebook and Instagram. More and more celebrities on Twitter have rarely been posting content on the platform. Elon Musk shared a tweet to show the statistics of the top 10 most followed Twitter accounts.
Buying 100% of Twitter – Was it Worth?
From our point of view Twitter has its own potential, If a Top user & admirer who had big feats accomplished, in building humongous companies certainly saw a vision and plan to execute to wider masses. As showcased in multiple statistics site, in comparison to Facebook, only 10% of visitors use Twitter which shows it has huge potential. As it is majorly used every controversial topic in the world. Certainly it was worth, but only time will tell what changes had took place.
The Future of Twitter
As of this moment, it has been cleared that the company has no intention of “laying off“. While the board was evaluating Elon Musk’s offer, Parag Agrawal reportedly told the employees that the future of the company is very uncertain, as stated by Reuters news agency.
Parag Agrawal also mentioned that he doesn’t know which direction will the platform go once the deal is sealed. Elon Musk plans to enhance the product and maintain the maximum trust that pertains to the functions and priniciples of democracy. He also plans to keep most of the board members and employees in the company as of now. He wondered whether the Twitter Algorithm should be open source in a tweet. The open source nature of Twitter’s algorithm was favored by 82 percent of respondents.
Though many people are happy with the deal, some people and celebrities have criticized the deal saying that this going to worsen the “freedom of speech” situation and the platform will become more toxic and unlawful.
In a tweet, Elon said-“I hope that even my worst critics remain on Twitter, because that is what free speech means.” We don’t know what the future holds for Twitter but Elon has been controlling the market through that platform for so long now. If Elon Musk saw potential in Twitter, he must be planning to bring drastic changes to the company, defeating the spam bots, and authenticating all humans.
Conclusion:
Twitter is in the hands of Meme lord – Elon Musk, he bought the entire company for $44 Billion and plans to optimize the micro-blogging platform for more variety of audience and battling of Spam bots along the way. As far as the entire Twitter & Team most probably we may see few backlash in initial transition face and new personnel joining the Micro-blogging platform.
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