Tag: Twitter

  • Twitter sues Elon Musk for breaching $44 bn deal, he reacts with a meme

    Twitter sues Elon Musk for breaching $44 bn deal, he reacts with a meme

    Mumbai: Tesla CEO Elon Musk was quick to react to a lawsuit filed against him by Twitter for breaching the $44 billion contract in his trademark maverick style – with a meme.

    Twitter recently sued the billionaire for violating the deal to buy the micro blogging platform, accusing him of hypocrisy and asked a Delaware court to order Musk to complete the merger at the agreed $54.20 per Twitter share, according to a court filing.  

    “Musk apparently believes that he – unlike every other party subject to Delaware contract law – is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away,” stated the lawsuit.

    “Twitter brings this action to enjoin Musk from further breaches, to compel Musk to fulfil his legal obligations, and to compel consummation of the merger upon satisfaction of the few outstanding conditions,” Twitter asserted in the lawsuit.

    In response to the news of the lawsuit, Musk took to the microblogging site and simply tweeted, “Oh the irony lol.” Earlier, he had responded to reports of Twitter taking him to court with a hilarious meme which seemed to take potshots at the social media giant’s decision.”

    The meme, accompanied by images of a laughing Musk, read: They said I cannot buy Twitter. Then they wouldn’t disclose bot info. Now they want to force me to buy Twitter in court. Now they have to disclose both info in court.

    The lawsuit could be the beginning of a long-drawn-out legal battle with both parties unwilling to climb down from their stances, as Twitter seeks to hold Musk to his deal to pay $44 billion for the company. The litigation accused Musk of “a long list” of violations of the merger agreement that “have cast a pall over Twitter and its business.”

    Last week, the Tesla CEO said he was terminating the merger because Twitter violated the agreement by failing to respond to requests for information regarding fake or spam accounts on the platforms. Musk said the lack of information about spam accounts and inaccurate representations amounted to a “material adverse event.”

    The standoff between the two parties has been ongoing for a while now, specifically since April this year when Musk reached an acquisition agreement with Twitter at $54.20 per share in a transaction valued at approximately $44 billion. Since then, however, Musk has been challenging Twitter’s claim that less than five per cent of accounts on the platform are bots or spam, even putting the deal on hold in May to allow his team to review the veracity of Twitter’s claim.

    ALSO READ | The Twitter-Elon Musk tussle: To be ‘bot’ or not to be

    In June, Musk had openly accused the social media company of breaching the merger agreement and threatened to walk away and call off the acquisition of the micro blogging site for not providing the data he has requested on spam and fake accounts.

  • CaratLane releases catchy Rap Anthem; takes twitter by storm

    CaratLane releases catchy Rap Anthem; takes twitter by storm

    Mumbai: The leading omni-channel jewellery brand, CaratLane, has launched its very own rap anthem on YouTube, starring the employees in their natural element. 

    The rap antthem #YehHaiApnaTime highlights how the essence & spirit of the people is what makes CaratLane so unique.

    The digital anthem recently created a buzz on Twitter as it trended in the top five conversations.

    The anthem goes on to showcase a glimpse of the fun & culture at their office.

    The brand released the rap anthem to give a sneak-peek into CaratLane’s work culture to its consumer base and connect with like-minded people. While the treatment of the video is very fun, inclusive and full of energy, the anthem also makes some strong statements that represent the overall brand values on omnipresence, priority of consumer experience and being accessible, to name a few. 

    Talking about the catchy release, CaratLane COO and co-founder Avnish Anand said, “the last 13 years have been nothing short of epic. They say it takes a village but for us it’s been an army of soldiers who have given all their heart, grit and determination in making every day and every year better than the other. From starting out in Chennai to now growing at a global scale, every milestone is a story of multiple heated (or passionate) discussions, the willingness to step into the unknown, the dedication to keep climbing mountain after mountain and being uncomfortably excited about every possibility and challenge thrown at us (and unlimited cups of chai!).”

  • Tesla’s Elon Musk unlikely to buy Twitter; may face legal consequences

    Tesla’s Elon Musk unlikely to buy Twitter; may face legal consequences

    Mumbai: After a lot of speculation, Tesla chief executive officer Elon Musk has pulled out of the $44 billion deal to buy Twitter which he inked back in April.

    Musk stepped back with an announcement, in a regulatory filing, on Friday that he would drop his $44 billion offer to buy Twitter. Musk’s lawyers stated that Twitter has failed to respond to their multiple requests for information about fake accounts.

    According to a letter sent to Twitter on behalf of the Tesla chief’s, Elon Musk is terminating his $44 billion deal to buy Twitter, citing multiple breaches of the purchase agreement. The letter said that Musk is terminating the merger agreement because Twitter violates several provisions of that agreement.

    Also Read: The Twitter-Elon Musk tussle: To be ‘bot’ or not to be

    Reacting to this, Twitter chairman Bret Taylo, said the board will take a legal route to enforce the merger agreement. He tweeted, “The Twitter Board is committed to closing the transaction on the price and terms agreed upon with Musk and plans to pursue legal action to enforce the merger agreement.”

    According to the agreement, Musk will have to pay $1 billion if he fails to make the complete transaction for the deal.

    Musk had threatened to cancel the transaction unless the business could demonstrate that less than 5 percent of members on the social media platform were made up of
    spam and bot accounts.

    The billionaire and the 16-year-old San Francisco-based corporation are likely to engage in a protracted legal battle as a result of the ruling.

  • Twitter to address Elon Musk’s demands by providing crucial tweet data

    Twitter to address Elon Musk’s demands by providing crucial tweet data

    MUMBAI: In a bid to end the standoff between the company and Elon Musk, Twitter will grant Tesla’s CEO unprecedented access to its “firehose” of public tweet data, The Washington Post reported. With this, the tech giant seeks to assuage Musk’s concerns over fake or automated accounts by yielding access to the firehose API, which contains ‘every tweet as it is posted.’

    Twitter’s firehose API, in its entirety, shows what a user would see if they followed every account on Twitter — although the sheer volume of data is impossible to obtain or analyse without automation. Due to its value for ad-targeting and platform surveillance, it is also one of the company’s most closely held resources.

    Firehose data could be immensely valuable as raw material for a study on automated activity. However, conducting a full study of automated activity would require significant time and resources, given the sheer scale of the data.

    Providing valuable data could help Twitter score political points over Musk, as the micro networking platform seeks to fend off Musk’s qualms over the number of bots or automated accounts on the platform, and ensure that he honours his part of the buyout deal.

    The news comes just days after the maverick billionaire once again threatened to back out of his deal to purchase Twitter, accusing it of failing to provide data on fake accounts.

    In his filing with the US Securities Exchange on Monday, Musk accused Twitter of breaching its April agreement by not providing him sufficient data on automated accounts, rejecting the company’s offer to provide more detail on its internal studies of the issue.

    Musk legally committed to purchasing Twitter in April this year, but since then has been increasingly vocal about growing bot activity on the platform, in what is seen by many as an attempt to renegotiate the deal on more favourable terms or cancel it altogether.

    ALSO READ |The Twitter-Elon Musk tussle: To be ‘bot’ or not to be

    “Twitter’s latest offer to simply provide additional details regarding the company’s testing methodologies is tantamount to refusing Musk’s data requests,” Musk’s representatives said in the filing. “At this point, Musk believes Twitter is transparently refusing to comply with its obligations under the merger agreement.”

    Despite all this, Twitter Inc. remains confident the deal will proceed as planned. In an internal meeting, a senior company executive assured employees that the deal was proceeding normally and set for a shareholder vote in late July or early August.

    Meanwhile, the networking giant’s stock continues to trade well below the $54.20 price set by Musk, reflecting market skepticism that the deal will go through as agreed.

    In response to Musk’s SEC filing, Twitter issued a statement earlier this week. “Twitter has and will continue to cooperatively share information with Musk to consummate the transaction by the terms of the merger agreement,” the statement reads. “We intend to close the transaction and enforce the merger agreement at the agreed price and terms.”

  • Layer’r Shot ‘apologises’ for offensive ads, invites further flak online

    Layer’r Shot ‘apologises’ for offensive ads, invites further flak online

    Mumbai: Following a social media backlash over its controversial deo ads, and after being called out by the ministry of information and broadcasting (MIB) and the Advertising Standards Council of India (ASCI), the Layer’r Shot brand issued a clarification statement, including an apology on Monday.

    The statement, however, judging by the responses it received on social media, appears to have done little to quell the outrage surrounding the brand’s films. If anything, it only seems to have fanned the flames of netizen’s outrage even further.

    Here’s the statement from the brand:

     

     

    The statement, while referencing the two recent advertisements from the brand on broadcasting platforms, informs everyone that the brand “aired the advertisements only after due and mandatory approvals.”

    It further added that it never intended to “hurt anyone’s sentiments or feelings or outrage any women’s modesty or promote any sort of culture, as wrongly perceived by some.”

    “However, we sincerely apologise for the advertisements that consequently caused rage amongst individuals & several communities and beg their pardon.” also read the letter, while adding that it has voluntarily informed all its media partners to stop the telecast/ broadcasting of both the TV advertisements from 4 June 2022.

    It may be noted that on the same day (4 June), the MIB had written to social media platforms -Twitter and YouTube to remove all instances of the two “inappropriate & derogatory” ads with immediate effect. The TV channel on which it appeared had already pulled it down on its directions, the ministry had tweeted

    The internet was scathing in its response to what several netizens termed as a poor and even fake attempt at apology. Most of the users took exception to the choice of words used in the apology, specifically the words “wrongly perceived” with regards to people’s perception of the offending ads.

    It wasn’t wrongly perceived, wrote a user, continuing: “It was perceived exactly the way you meant it to be perceived. Don’t try to pretend like you weren’t demeaning women and implying sexual assault in your ads. It was your whole hook.”

     

     

    Not wrongly perceived. What was the story, and what was the implied meaning? Why did the female lead expression change? Pls can you reveal.. @layerr_shot so we can be sure that it was wrongly perceived.

     

     

    Another user-determined: “This is not an apology. You know what you did. You know why you did it.”

    Yet another fumed at the alleged audacity of the brand to term the public’s response as wrongly perceived, further adding: It’s also kinda sickening that it went through several people who found it to be okay.

    A Twitterati called out the brand’s marketing department and corporate communication team, stating that they ought to be “case studies on how to spend money to earn infamy.”

    Accusing the brand to be still in denial of its wrongdoing, an apology with a comment of how the viewers “Wrongly perceived it.. Is not an apology.” And another added, “You need to apologise for this apology too!”

    “Pretty bad ad. The agency partners, brand team, approval team and conceptualization teams, are all at fault. A fake apology like this won’t help!” schooled another user.

     

     

    Another netizen was outraged against the brand for its attempt to blame the audience. “This reflects on the toxicity of the unevolved brains behind this ad. They are blaming the audience. Every script has an insight behind it; the girls’ disgusted face (reaction) when the group of boys say those uncouth words is a clear indication that u knew!,” she wrote.

    Some were severe in their indictment of the brand’s attempt at clarification, writing: Really? This is an apology? Didn’t the story in the advertisement cause rage among people in the meeting room when the advertisement was pitched. The ad has gangrape culture on full display and your product henceforth will smell like rape on the users. Shut it down.

     

     

    For the unversed, the outrage is against two recent ads promoting the Layer’r Shot brand’s deo. The ads can be viewed here:

     

     

    The first one of the offending ads features a couple getting intimate in a bedroom. Four of the guy’s friends barge into the room, sneering at the couple and asking a seemingly loaded and crude question. After a few moments of suspense, wherein the girl is seen visibly getting alarmed at what the guys’ true intentions are, the ad reveals that the friends were simply asking if they can use the Shot deo kept in the room!

     

     

    The second ad plays out along similar lines, where the four men are showcased indulging in an animated conversation at a supermarket. A woman is shown in the forefront, while they discuss who will take the “shot” since there are four of them and just one of “it”. Again, the ad plays on the fear factor of the woman, as she looks back in alarm at the four men, only to find that they are talking about the single bottle of the Shot deo left in the store, while the ad makes it look as if they are talking about the woman.

    Earlier, while referencing the action taken on the ads, ASCI CEO & secretary general Manisha Kapoor told Indian Television that: “An ad goes through many layers of discussions and approvals, and it is very disappointing that such ads were not weeded out.”

    Everyone in the ecosystem has a role to play, including the advertiser, agency, production partners, and endorsers, she further added.

    The ads, however Kapoor clarified, are not conceptualised by Triton Communications as several publications wrongly stated initially. In fact, the advertisements are an in-house creation.

    The ministerial action came after several netizens flagged the offensive video commercials, accusing them of promoting rape culture and trivialising sexual violence against women, and being plain creepy. 

    The advertising self-regulatory body, ASCI also suspended the ads after finding them to be in serious breach of its code and against the public interest.

  • Layer’r Shot deo ads accused of inappropriate content; MIB, ASCI take action

    Layer’r Shot deo ads accused of inappropriate content; MIB, ASCI take action

    MUMBAI: The ministry of information and broadcasting (MIB) on Saturday wrote to social media platforms -Twitter and YouTube to remove two recent controversial advertisements from deo brand Layer’r Shot for their alleged obscene content. The move came after several netizens flagged the offending video commercials, accusing them of ‘promoting rape culture’ and trivialising sexual violence against women, and of being plain ‘creepy’.

    The advertising self-regulatory body, ASCI (Advertising Standards Council of India) also suspended the ads after finding it to be in “serious breach of its code and against the public interest”.

    The ministry wrote to social media platforms – Twitter and YouTube to remove the offending video commercials of the deo brand for their alleged obscene content. The move came after ASCI found the ads violative of its advertisement codes.

    “An inappropriate & derogatory advertisement of deodorant is circulating on social media. The I&B ministry has asked Twitter & YouTube to immediately pull down all instances of this ad. The TV channel on which it appeared has already pulled it down on directions of the ministry,” the ministry tweeted.

    The ministry said the ads violate Rule 3(1)(b)(ii) of the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules 2021.

    The emails called the attention of the social media platforms to “certain videos which appear to be an advertisement of a company, and are being posted by several users on the intermediary platform Twitter” and the “video titled “Layerr shot Mall 15 Opt2 Hindi Sub HD” published” on 3 June.

    Following the ministry’s action, the channel Sony Ten 1 that originally aired the ad during a sports telecast has pulled it down.

    Coming right on the back of the ASCI updating its code to prevent new areas of possible discrimination or derision, the council was alerted to the offending ad for the deodorant product, on the morning of 3 June 2022, ASCI’s CEO Manisha Kapoor told Indiantelevision.com. After seeing the ad, which was in serious violation of Chapter II of the ASCI Code against offensive advertising, ASCI immediately invoked a special process called “Suspended Pending Investigation” (SPI).

    The body also wrote to the advertiser on the same day, informing them of the decision to suspend the advertising, and invited the advertiser’s response which would be tabled before the Consumer Complaints Council in the coming days, Kapoor further added.  

    One of the offending ads features a couple getting intimate in a bedroom when four of the guy’s friends barge into the room. They sneeringly ask the guy a seemingly loaded, crude question. After a few moments of suspense, wherein the girl is seen visibly getting alarmed at what the guys’ true intentions are, the ad reveals that the friends were just asking if they can use the Shot deo kept in the room!

    Layerr Shot deo ad #1:

    The second ad plays out along similar lines, where the four men are showcased indulging in an animated conversation at a supermarket. A woman is shown in the forefront, while they discuss who will take the “shot” since there are four of them and just one of “it”. Again, the ad plays on the fear factor of the woman, as she looks back in alarm at the four men, only to find that they are talking about the single bottle of the Shot deo left in the store, while she thinks they are talking about her.

    Layerr Shot deo ad #2 :

    Several users on Twitter called out the brand for being plain creepy and suggestive of sexual violence against women.

    “How does this kind of ads get approved, sick and outright disgusting. Is @layerr_shot full of perverts?” wrote one user.

    “Whoever ideated, wrote, produced, acted in and approved the new Layer’r Shot ads, shame on each one of you,” wrote another netizen.

    “@layerr_shot pull these ads. They perpetuate rape culture. Sony Liv pls stop broadcasting these #Layershot ads,” another Twitter user said.

    Another user wrote, “There have to be some regulations for ads man. That Shot deo ad is nothing short of disgusting. Even though I knew it was an ad and it wouldn’t happen. The fear for a second I felt was real. Imagine making an ad on the fears of millions of women,”

    “There have to be some regulations for ads man. That Shot deo ad is nothing short of disgusting. Even though I knew it was an ad and it wouldn’t happen. The fear for a second I felt was real. Imagine making an ad on the fears of millions of women! WTF!”, yet another tweeted.

  • Former CEO Jack Dorsey steps down from Twitter’s board of directors

    Former CEO Jack Dorsey steps down from Twitter’s board of directors

    Mumbai: Twitter’s former CEO Jack Dorsey has stepped down as a board member of the microblogging platform. Dorsey’s exit from the Twitter board means he no longer has anything to do with the social media giant and has exited completely.

    In November 2021, he also resigned from the position of CEO of Twitter. Then, he was replaced by Parag Agarwal, a technical expert of Indian origin. Parag was the CTO of the company at that time.

    His resignation comes at a time when there is a tussle between Elon Musk and Twitter. Musk is pressuring the company to reveal the actual number of fake or spam accounts on the platform.

  • India TV’s Rajat Sharma has highest number of Twitter followers: Study

    India TV’s Rajat Sharma has highest number of Twitter followers: Study

    Mumbai: According to a study by Muck Rack ‘The 2022 State of Journalism on Twitter,’ India TV editor-in-chief and chairman Rajat Sharma is the most followed verified journalist on Twitter following MSNBC host Rachel Maddow and CNN host Anderson Cooper.

    India Today news anchor and journalist Rajdeep Sardesai, Washington Post columnist Barkha Dutt and Zee News editor-in-chief Sudhir Chaudhary are also in the league for having huge followership on Twitter globally which includes Washington Post contributor Carlos Loret De Mola, freelance journalist Joaquín López Dóriga, The Guardian sports journalist Fabrizio Romano and owner Carmen Aristegui.

    India’s freelance journalist and social media activist Sadiya Parveen took the number one spot for achieving the highest number of Twitter followers with a one year old account. She gained 15,367 followers closely followed by another Indian journalist Abdul Kalam who had 13,143 followers.

    Muck Rack study includes only verified journalists within all rankings and roundups. The survey of 2,547 journalists between 4 January to 25 January found that 77 per cent of the respondents (journalists) value Twitter more than any other social media platform. About 39 per cent journalists said that they plan on spending more time on Twitter in 2022 than they did last year. Journalists also ranked Twitter as one of their top destinations for finding news, second only to online newspapers and magazines.

    Muck Rack editorial director Andrew Mercier said, “And even amid controversies and potential acquisitions, it’s likely Twitter will remain a leading platform for the foreseeable future.”

    The media outlets with the most collective followers were CNN, ESPN, The New York Times, MSNBC, The Washington Post, Fox News, NBC News, BBC, The Guardian and The Athletic. When it came to media outlets with the most journalists present on Twitter, the BBC led the pack with 1,783 journalists active on the social media platform. It was followed by Bloomberg News, The New York Times, Reuters, Associated Press, CNN, The Washington Post, The Wall Street Journal, The Guardian and ABC News (Australia).

    The trends spotted in the report show that the average journalist covers four beats as compared to last year where they covered three beats. It also highlighted that most surveyed journalists create content in at least one medium in addition to their primary medium with digital having the highest share at 38 per cent followed by print at 25 per cent, newsletters at 17 per cent and podcast at 15 per cent. Of the journalists surveyed, fewer said that CEOs and company PR professionals are credible sources for reporting. However, more journalists found social media personalities (17 per cent vs 12 per cent last year) and celebrity spokespeople (14 per cent vs 12 per cent last year) more credible than they did last year.

    According to the study, a third of journalists surveyed believed (32 per cent) that audience trust in their coverage has increased. Most importantly, most journalists turn to online newspapers (57 per cent) or Twitter (18 per cent) first for news. Majority of journalists surveyed (62 per cent) reported that they prefer Zoom for virtual events. And 46 per cent of journalists say that an event going virtual does not affect their likelihood of covering it.  

  • Ravi Shastri’s ‘king of good times’ avatar in latest Cred ad sets the internet abuzz

    Ravi Shastri’s ‘king of good times’ avatar in latest Cred ad sets the internet abuzz

    Former Indian cricket head coach, Ravi Shastri’s fondness for alcohol is well known. Shastri himself has never shied away from acknowledging that a good brew of beer is good enough to lift his spirits! But this has also led him to be the butt of trolls and a source of many memes on social media on numerous occasions in the past. Cashing in on this premise, Cred’s latest and probably the final ad spot for this IPL, celebrates and reinforces this image of Shastri as Indian cricket’s ‘King of good times’. And the internet is loving it!

    A day prior to the campaign launch, Ravi Shastri set the internet abuzz by sharing speculative pics of him partying away (which we now know are shots from the ad film) with suggestive captions such as: ‘Good mornings are optional if you haven’t slept at all’, or ‘My family lives in Mumbai and I live in the moment.’ And even bizarre tweets like ‘Mujhe kya mein toh chill hun’ and suspicious sounding ones like: ‘I’m in a good mood today, ask me anything. #AskRavi ‘

    Sharing the brand film with a hilarious ‘Don’t remember any of this’ caption, Shastri even went on to update his Twitter bio to ‘Happy Hours always ’ followed by a ‘cheers’ emoji.

     

     

    The film showcases the former coach in a badass, snazzy avatar, and further drives in his spirit-loving image, with the comical usage of the popular ‘sattar minute’ phrase for happy hours, and lines like ‘I used to be a batsman, but for you, I can be a keeper’, ‘Waste mat karo yaar’ for popping the bubbly.

    Also, Jim Sarabh seems to have retired well and truly from the brand’s films, with his signature line taken up by the celebrity himself- in this instance Shastri- spouting lines like, “Being Ravi Shastri is fun. But not as fun as paying your credit card bills on Cred and getting rewards!”

    The writing is credited to the AIB team of Tanmay Bhat, Devaiah Bopanna, Puneet Chadha, among others. The Twitterati, of course, lapped it up, with even his former coaches and team India cricketers joining in the fun and banter surrounding the video. Indian Cricketer Yuzvendra Chahal responded to the film with a tweet saying: Ravi Shastri gave the best ’70 minute’ speech ever.

    Addressing the senior cricketer, ‘Ravi sir’, cricketer Shubman Gill called it “Dawn of a new era”.

    Meanwhile, television and cricket presenter, Gaurav Kapur, known for being the host of the pre-match Indian Premier League show, Extraaa Innings T20 and Cricbuzz Live jumped in, saying, “I can personally vouch for the fact that evenings with the champ are as much fun as this”, following it with partying emojis.

     

     

    Cred shared the video on YouTube with the accompanying, fun message purportedly from the senior cricketer: “As Ravi Shastri, I want to make it very clear that all my parties are invite-only. But I admire our youth and their potential, so if you’re able to do all of the following, you’re automatically on the guest list.”

    It went on to add five pointers for ‘making the cut: “1. Open beer bottles with a bat. If you ask how, you’re already out. 2. Analyse footage from the party to see where drinks were wasted 3. Bartend 24×7 4. Carry an extra case of cough syrup at all times 5. Parallel park the bar-counter If you make the cut, congratulations. You’re never going to remember another night in your life again”.

    The caption goes on to make a case for the credit card payment app brand, with the cricketer signing off with: “Believe me, I know what’s fun.”

    Gauging from the change in tone and tenor of the latest Cred ‘Play it Different’ ad, from its previous nostalgia-inducing series and before that, the celebrities doing stuff completely uncharacteristic to their personalities – remember the angry Dravid and quirky Kapil Dev films- would this be the beginning of a new series of ad films for the credit card payment brand? One wherein celebrities join in to reiterate and even reinforce their much-maligned image? If so, wonder which other celebrity is going to go next! Wait and watch this space for more…

  • The Twitter-Elon Musk tussle: To be ‘bot’ or not to be

    The Twitter-Elon Musk tussle: To be ‘bot’ or not to be

    Mumbai: The Twitter acquisition drama has been playing out- where else but on Twitter- on a daily basis (or hourly, if you go by Musk’s tweets) for the last several weeks. The latest in the Elon Musk-Twitter saga is that the Twitter Inc board has decided to go ahead and enforce its $44 billion agreement to be bought by Elon Musk. The board’s statement comes on the back of multiple tweets from Musk in the last several days that seem to indicate that the billionaire appears to be rethinking the whole deal.  

    “We intend to close the transaction and enforce the merger agreement,” the board said on Tuesday in a statement, adding, “the transaction is in the best interest of all shareholders.”

    Prior to this, the board voted to unanimously recommend that shareholders approve Musk’s $54.20 per share offer.

    Earlier on Tuesday, Elon Musk intensified his very public dispute with the Twitter CEO on the matter of bots or fake accounts on the platform, saying his acquisition of the social media company “cannot move forward” until he sees more information about the prevalence of spam accounts.

    “20% fake/spam accounts, while 4 times what Twitter claims, could be *much* higher. My offer was based on Twitter’s SEC filings being accurate. Yesterday, Twitter’s CEO publicly refused to show proof of <5%. This deal cannot move forward until he does,” Musk tweeted, citing an article by Teslarati, (which, by the way, is a media company and a publisher of news on Tesla, SpaceX, and ventures, affiliated with Musk himself!) that said, “Elon Musk may be looking for a better Twitter deal as $44 billion seems too high with 20% of users being fake or spam accounts.”

    The article suggested Twitter’s filings with the Securities and Exchange Commission were misleading. The company has maintained that less than five per cent of its daily active users are spam accounts.

    In yet another twist in the proposed acquisition, earlier on Friday, Musk had tweeted that his planned $44 billion purchase of Twitter is “temporarily on hold” pending details on spam and fake accounts on the social media platform.

    The proposed takeover includes a $ one billion breakup fee for each party, which means Musk will have to pay the said amount if he ends the deal or fails to deliver the acquisition funding as promised. Musk might be exempted from that requirement only if he can show a material change in the company’s situation or the information it has provided.

    This is just the latest in a series of twists and U-turns that have been doing the rounds on the platform, regarding the company’s take over by Musk amid increasing signs of internal turmoil between the two parties.

    In fact, ever since the billionaire grandly announced his offer to buy out the micro blogging platform on 14 April, the platform has been abuzz with new speculations on the acquisition front, mostly triggered by the Tesla founder himself. Musk has been highly active on the platform even before that, and became more so vocal about the site’s alleged shortcomings when he started building his stake in the company and became an active investor in April this year.

    This led to speculations on Musk being keen to join the company’s board, further amplified by the Twitter CEO’s own tweet on 5 April welcoming Musk onboard, where Agrawal wrote about the billionaire: “He’s both a passionate believer and intense critic of the service which is exactly what we need on @Twitter, and in the boardroom, to make us stronger in the long-term.”

    However, Musk surprised everyone- most of all, the Twitter management- by rejecting the company’s offer to join its board, instead offering to buy out the company itself!

    With Twitter now committed to completing the sale even as Musk continues to drag his feet over it, it remains to be seen how the rest of this very public saga plays out!