Twitter Says Will Have Shareholder Vote by August on Sale to Elon Musk

Twitter anticipates a shareholder vote on its $44 billion (roughly Rs. 3,42,070 crore) sale to Elon Musk may come by early August, because it continues to work constructively to finish the cope with the world’s richest particular person, the social media firm’s prime executives informed staff on Wednesday.

Musk’s legal professionals warned Twitter on Monday that he may stroll away from the acquisition if the corporate fails to offer the information he seeks on spam and faux accounts.

Twitter has stated it’s persevering with to share data with Musk. Part of that knowledge is the “firehose,” a set comprising all tweets on the platform analysed by totally different parameters, resembling units of customers or profiles of accounts that publish tweets, in accordance with folks conversant in the matter.

Twitter sells this knowledge to social media monitoring firms as a part of its licensing enterprise however plans to furnish it to Musk without cost as a part of the data trade, the sources stated. The firehose doesn’t include confidential data, such private particulars of Twitter customers that aren’t public or how usually they confirm their accounts, the sources added.

Twitter Chief Executive Parag Agrawal final month tweeted he didn’t imagine a calculation of faux and spam accounts might be carried out outdoors the corporate, as a result of it will require personal data that Twitter can’t share.

It was not clear how a lot confidential details about its consumer base Twitter will share with Musk. The Washington Post first reported on the sharing of the firehose.

A Musk spokesperson didn’t instantly reply to a request for remark.

Twitter’s prime lawyer Vijaya Gadde informed an worker assembly that the corporate anticipates it may maintain a shareholder vote on the Musk deal in late July or early August.

During the inner assembly, the corporate’s prime executives stated Twitter was working to enhance its defenses in opposition to pretend accounts and accounts that unfold cryptocurrency spam.

© Thomson Reuters 2022