Source: The Economic Times
Latest reports suggest how Twitter Inc is set to hold a shareholder vote by late July, early August on its $44 billion deal for billionaire Elon Musk to acquire it. This come as the social media company goes on working ‘constructively’ to fulfil the deal with the Tesla chief executive. On Wednesday, June 8, Twitter’s top executives clarified this to its employees.
On Monday, June 6, Musk’s attorneys warned the social media giant that he could possibly walk away from the deal. The lawyers stated that this would be owing to the company failing to provide the data he asked for regarding spam and bot accounts on the platform.
Moreover, Twitter Inc stated how it is constantly going on to share data regarding this to Musk. Part of this information is the ‘firehose’, a set consisting of all tweets on the social media tweets which is analysed by various parameters. Essentially, these includes devices of users or profiles of users’ accounts that publish tweets on the outlet. The people familiar with the matter clarified this to concerned reporters.
The purpose of the information:
The social media platform mainly sells this information to companies concerned with the monitoring of social media outlets. This is mainly as an extension of the company’s licensing business. However, sources stated that the company is planning to furnish it to the billionaire CEO for free as part of the exchange of datas.
Notably, the firehose does not comprise confidential information as such personal data of the users of the platform are not exactly public. Additionally, the sources stated that it does not contain the details on how frequently they verify their accounts either.
Unfortunately, it is still rather unclear as to how much confidential information regarding the user base Musk would necessarily receive from Twitter. A spokesperson for the Tesla CEO did not acknowledge to requests made for a comment on the situtation.
Vijaya Gadde, the top attorney for Twitter Inc informed an employee gatherings regarding the company anticipating the shareholder vote in early August.
Elon Musk bagged the deal to acquire the social media for $44 billion this April. However, the deal went through a range of controversies since it was struck. In fact, Musk put the deal on a temporary hold owing to pending details of spam and fake accounts on Twitter, which the platform estimated to be less 5%.
