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Musk accuses Twitter of withholding data, says may withdraw bid

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Tesla Chief Exeuctive Elon Musk threatened to withdraw his bid for Twitter if the company does not provided requested information on fake accounts

Tesla Chief Exeuctive Elon Musk threatened to withdraw his bid for Twitter if the company does not provided requested information on fake accounts – Copyright AFP Sergei SUPINSKY

Elon Musk threatened Monday to withdraw his bid to buy Twitter, accusing it of failing to provide data on fake accounts, in the latest twist in the Tesla billionaire’s push to acquire the social network.

Twitter has committed “a clear material breach” of its “obligations under the merger agreement and Mr. Musk reserves … his right not to consummate the transaction,” according to a document filed with securities regulators.

The filing marks an escalation of Musk’s prior statements that have highlighted fake accounts as a threat to his proposed $44 billion deal to take over Twitter.

Musk has said that the real number of bots may be four times higher than Twitter estimates.

Bots can be used on social media to spread false news or create a distorted impression of how widely information is being consumed and shared.

Twitter chief executive Parag Agrawal has said that fewer than five percent of accounts active on any given day at Twitter are bots, but that analysis cannot be replicated externally due to the need to keep user data private.

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Musk has been dismissive of Twitter’s responses and reiterated that stance in Monday’s filing.

To execute the deal, Musk “must have a complete and accurate understanding of the very core of Twitter’s business model — its active user base,” said the filing.

“Mr. Musk believes Twitter is transparently refusing to comply with its obligations under the merger agreement, which is causing further suspicion that the company is withholding the requested data due to concern for what Mr. Musk’s own analysis of that data will uncover.”

Shares of Twitter fell 3.6 percent to $38.70 in early trading.

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LinkedIn Shares Marketing Industry Insights and Tips in Latest ‘Big Thinking’ Digital Magazine

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LinkedIn Shares Marketing Industry Insights and Tips in Latest 'Big Thinking' Digital Magazine

Looking for a marketing-related read for the long weekend?

LinkedIn has published the second edition of its ‘Big Thinking’ digital magazine, which includes a range of interviews, insights, tips and notes on various marketing-related subjects and trends.

The 36-page magazine includes expert notes on sustainable marketing practices, evolving messaging processes, and creative tips – from Disney no less.

There’s also a section which looks at how marketers can mitigate the loss of cookie tracking data, and how to build an employer brand (and why you should).

LinkedIn Big Thinking magazine

LinkedIn has also included expert interviews on customer experience, digital transformation and creative B2B strategies, among other elements.

There are some good notes, which could help you formulate a more effective marketing approach for your brand, in line with the latest trends, while it’s also handy to stay up to date with the latest trend insights and tips to keep your market knowledge fresh.

And it’s free. If nothing else, it’s a quick overview of some of the key trends that are playing on the minds of the top industry professionals, which will likely trigger at least inspiration in your own efforts.

You can download LinkedIn’s latest ‘Big Thinking’ digital magazine here.

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