Tweetadder meaning3/9/2023 ![]() ![]() Musk believes he can increase revenue through subscriptions that give paying customers a better experience - possibly even an ad-free version of Twitter. The company reported a loss of $221 million last year. ![]() Unlike its peers like Facebook and TikTok, Twitter has struggled financially due to its inability to generate enough advertising revenue to make a profit. Musk, a prolific Twitter user who describes himself as a "free-speech absolutist," also wants to rid the platform of fake accounts and bots as well as shift away from advertising as its main revenue source. He wants to open-source the social network's algorithm and make changes to its content policies - by including an edit feature, less moderation and introducing a higher bar for removing offending tweets. Musk says he views Twitter as the "de facto town square" and is not buying the company to make money, but instead to protect free speech. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Its importance and impact have grown considerably in recent years, with many influential politicians, companies, activists and celebrities using it to communicate with their followers and consumers.Įlon Musk reaches deal to take over Twitter Twitter, which has about 217 million daily active users worldwide, has been a popular one-to-many messaging platform with global reach. The billionaire wants to take Twitter private upon completion of the transaction, which is expected to happen by the end of the year. Musk, the world's richest person with an estimated net worth of $250 billion, said he had already secured financing for the deal. He described the offered purchase price as "best and final" when he announced the bid on April 14. To fully own the social media platform, Musk will pay $54.20 (€50.8) per share in cash, or $44 billion, a 38% premium on the company's closing price on April 1. The board of Twitter on Monday agreed to the takeover bid by Elon Musk, marking a dramatic reversal of its earlier hesitation to accept the unsolicited offer. ![]()
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