HUGE WIN FOR ELON: Twitter Board Will Comply With Elon Musk’s Demand and Share Internal Data About Spam Bots
Twitter is complying with Elon Musk’s demands to see their internal data on spam bots.
The Blaze reported:
On May 13, he said that his deal to buy Twitter could not move forward until he verified Twitter’s claim that spam or fake accounts make up fewer than 5% of Twitter’s users. Musk has estimated the number is closer to 20%—a claim backed by some independent researchers—but he has repeatedly insisted he needs access to Twitter’s data to know for sure.
According to an article from the New York Post:
Twitter’s board of directors plans to allow Musk to review its data “firehose”, allowing the Tesla CEO and his legal team to access to every tweet posted to the platform each day, the Washington Post reported, citing a source familiar with the matter.
Musk could receive access to the pipeline, which includes data on the tweets themselves as well as the accounts and devices from which they originate, by as soon as this week, according to the report.
In an SEC filing earlier this week, the billionaire’s team had alleged that Twitter refused access to critical data about its user base that would “facilitate his evaluation of spam and fake accounts on the company’s platform.”
Musk offered Twitter $44 billion to buy it from them. He sought proof from them to back up the claim they made that spam bots account for less than 5% of Twitter’s overall users.
Musk’s attorney said in an SEC filing, “As Twitter’s prospective owner, Mr. Musk is clearly entitled to enable him to prepare for transitioning Twitter’s business to his ownership and to facilitate his transaction financing.”
“To do both, he must have a complete and accurate understanding of the very core of Twitter’s business model—its active user base,” their letter said.
The letter added, “If Twitter is confident in its publicized spam estimates, Mr. Musk does not understand the reluctance to allow Mr. Musk to independently evaluate those estimates.”
Twitter said in a statement, “Twitter has and will continue to cooperatively share information with Mr. Musk to consummate the transaction in accordance with the terms of the merger agreement.”
They added, “We believe this agreement is in the best interest of all shareholders. We intend to close the transaction and enforce the merger agreement at the agreed price and terms.”
If Musk backed out of the terms of the buyout agreement, he could be subject to a $1 billion breakup fee.
Musk has pledged to “authenticate all real humans” and get rid of fake accounts from the social media site or “die trying”.
According to SEC filings, Musk is funding the acquisition of Twitter with $33 billion of his own personal wealth. He is seeking additional financing from former Twitter CEO Jack Dorsey and other shareholders.
Musk has not personally responded to this report, as of yet.
Bloomberg recently reported that “Twitter’s shareholders will vote to approve the Musk deal in late July or early August, after the Securities and Exchange Commission gives the green light to the agreement.”