Twitter plans to hold shareholder vote by August on sale to Elon Musk

Author: Nishu June 9, 2022

Twitter plans to hold shareholder vote by August on sale to Elon Musk


Top company executives said Twitter was working to improve its defenses against fake accounts and accounts that spread cryptocurrency spam.

Top company executives said Twitter was working to improve its defenses against fake accounts and accounts that spread cryptocurrency spam.

Top executives at the social media company told employees on Wednesday that Twitter Inc expects a shareholder vote on its $44 billion sale to Elon Musk could come as early as August, as it closes deals with the world’s richest man. Continuing to work creatively to make ends meet.

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Musk’s lawyers warned Twitter on Monday that he could walk away from the takeover if the company fails to provide the data he sought on spam and fake accounts.

Twitter has said it is continuing to share information with Musk. Part of that data is “firehose,” a set that includes all tweets on the platform analyzed by various parameters, such as the devices of users or the profiles of accounts that published the tweets, according to people familiar with the matter.

Sources said Twitter sells this data to social media monitoring companies as part of its licensing business, but plans to give it to Musk for free as part of the information exchange. Sources said the firehose does not include confidential information, personal details of Twitter users that are not public or how often they verify their accounts.

Twitter chief executive Parag Agarwal tweeted last month that he does not believe fake and spam accounts can be counted outside the company, as it would require personal information that Twitter cannot share.

It was not clear how much confidential information Twitter would share with Musk about its user base. The Washington Post first reported the split of Firehose.

Musk’s spokesman did not immediately respond to a request for comment.

Twitter’s top lawyer Vijaya Gadde told a staff meeting that the company expects to hold a shareholder vote on the Musk deal in late July or early August.

During an internal meeting, top company executives said that Twitter was working to improve its defenses against fake accounts and accounts that spread cryptocurrency spam.

9 June, 2022, 10:31 am

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