Elon Musk “temporarily” suspends the purchase of Twitter for fake profiles

The sale of Twitter to Elon Musk for 44,000 million dollars is at risk due to an old problem with the social network: fake accounts and bots. “Twitter’s deal is temporarily suspended pending details supporting the calculation that spam/fake accounts effectively represent less than 5% of users,” the billionaire tweeted Friday.

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Musk links in a comment to a news item from the Reuters agency published on March 2. It reports that Twitter has reported that the percentage of fake accounts on the social network is less than 5%. This is equivalent to the fact that more than 95% of the 229 million users that the social network declared in its last balance are “monetizable”, which means that they consume the ads that Twitter inserts and with which the company finances itself.

At the end of April, Twitter acknowledged that it had made an error in its estimates of fake accounts for the last three years. The reality is that it had more than it was communicating, but the error was not large enough for its total number of users to drop below those 229 million, counting on the growth of recent months.

However, in a communication to the US stock market regulator, he acknowledged that this new estimate could also be wrong. “We have conducted an internal review of a sample of accounts and estimate that the average number of fake or spam accounts during the first quarter of 2022 represented less than 5% of our monthly active users during the quarter,” he explained: “In making this estimate, We apply significant judgment, so our estimate of fake or spam accounts may not accurately represent the actual number of such accounts, and the actual number of fake or spam accounts could be higher than we have estimated.”

The Twitter communication has been published for more than two weeks and it is not clear why Musk now brings up his doubts about the real users of the social network. The tycoon has promised to pay some 44,000 million euros for it and has already reached agreements with both private partners and investment funds to collaborate with him in financing that figure.

Twitter has plummeted in the stock market as a result of Musk’s tweet. In a few minutes the value of his shares has fallen below 36 dollars, from 45.8 where he closed the session on Thursday. These are the requests sent before the opening of the markets on Wall Street, so the bump could increase during the session. Musk has offered $54.20 per share to buy 100% of the company.


Source: ElDiario.es – ElDiario.es by www.eldiario.es.

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