Tesla & SpaceX CEO Elon Musk who has been pursuing the acquisition of Twitter for about a month now has just posted on Twitter that the deal has been put on a temporary hold. He announced this in an early morning tweet that he published around 5 AM Austin, Texas-time where he has his basic home instead of California.
The reason for this hold he explained is a filing that Twitter has placed on Monday which states that the social media platform has less than 5% spam/fake/bot accounts (reported by Reuters).
“Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,” Musk tweeted.
Musk has not posted any further comments under the above tweet and hasn’t put forward more details on how long this temporary hold will stay in place. But it is clear that he is probably not convinced that Twitter has less than 5% spam & bot accounts. He probably believes there are way more bots on the social media platform than this tiny figure.
Elon Musk will try his best to validate Twitter’s claim of less than 5% bots, spam, and fake accounts to finalize the deal. If Twitter’s claim does not validate, the $44 billion deal might need further negotiation.
Musk’s prime target after taking over Twitter management and oversight was to eradicate all bot accounts from the database of the social media giant.
Hopefully, this will be a “temporary” hold on the Musk-Twitter deal, otherwise, it will be one of the biggest hiccups in the history of Silicon Valley.
Update: Elon Musk later on tweeted that he’s still committed to the acquisition of Twitter.