Tech

A timeline of Musk’s on-again, off-again pursuit of Twitter

Elon Musk’s decision to maneuver ahead along with his buy of Twitter on the unique value after months of efforts to cancel the deal is simply the newest of his battles with the social media firm.

Musk reportedly informed Twitter Monday that he would conform to pay his initially pitched value of $54.20 per share so he may take the corporate non-public. The provide may finish months of battle between the billionaire and the social media firm.

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The story of Musk’s enterprise with Twitter begins again originally of 2022.

Jan. 31, 2022: Musk started shopping for Twitter inventory whereas retaining the purchases non-public.

March 25, 2022: Musk polled his followers about whether or not they consider Twitter “rigorously adheres” to the precept of free speech, main some to take a position that Musk was contemplating buying Twitter or beginning his personal social media platform.

April 4, 2022: Musk’s determination to purchase Twitter inventory turned public after a Securities and Alternate Fee submitting revealed that he owned 9.2% of the corporate, making him its largest stockholder.

April 5, 2022: Musk was invited by Twitter CEO Parag Agrawal to hitch the board of administrators, to which Musk initially agreed.

April 11, 2022: Musk declined the provide from Agrawal to hitch the board. Later texts would reveal that this occurred after the Twitter CEO berated Musk for speaking about “Twitter dying,” which Agrawal stated made his job more durable.

April 14, 2022: Musk supplied to purchase Twitter for $54.20 a share, a proposal the corporate stated it’s contemplating.

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April 14, 2022: Musk stated at a TED Discuss that his need to purchase Twitter is because of a concern that if Twitter loses belief among the many public, it is going to create a rise in “civilizational threat,” implying that bettering Twitter’s speech insurance policies are important for society.

April 25, 2022: Twitter agreed to simply accept Musk’s provide of $54.20, a lot to the joy of shareholders.

Might 13, 2022: Musk said on Twitter that the take care of the social media platform is on maintain for unspecified causes. He later stated that it was as a result of spam bot counts.

June 8, 2022: Musk claimed on Twitter and at public occasions that Twitter had 20% or extra bots on the web site, which is considerably greater than the 5% Twitter disclosed in its SEC filings. Twitter responded first by elaborating on its strategies for figuring out bots on the platform, adopted by providing Musk entry to a “firehose” of knowledge so he may affirm Twitter’s strategies for himself.

July 8, 2022: Musk terminated his settlement to amass Twitter, claiming that the corporate had not answered his questions on spam bots sufficiently to justify his buy.

July 12, 2022: Twitter’s authorized group filed a lawsuit towards Musk to drive him to uphold his deal within the Delaware Court docket of Chancery. The go well with argues that Musk ended the deal after seeing his Tesla inventory drop in worth and getting chilly toes over the deal.

July 19, 2022: A choose within the Delaware Court docket of Chancery dominated for an expedited trial, setting a date for Oct. 17 to Oct. 21. The 2 events shortly start to make their case.

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Aug. 05, 2022: Musk filed a countersuit towards Twitter, alleging fraud and a miscounting of bot accounts.

Aug. 23, 2022: Peiter Zatko, the previous head of safety at Twitter, got here ahead as a whistleblower. Zatko alleged that Twitter had did not take sufficient motion to guard customers’ information. He additionally echoed Musk’s considerations about Twitter’s strategies for counting spam bots on the platform.

Sept. 12, 2022: Musk claimed in second and third termination letters that Zatko’s launch from the corporate justified his determination to finish the take care of Twitter. Twitter dismissed the claims, declaring them “invalid and wrongful.”

Sept. 13, 2022: The vast majority of Twitter’s stakeholders voted in favor of Musk buying Twitter regardless of the authorized trial.

Sept. 28, 2022: Court docket paperwork revealed that Musk’s researchers couldn’t substantiate his claims that Twitter had lied about its bot counts earlier than he determined to finish the deal.

Sept. 30, 2022: Musk’s texts discussing the deal had been unveiled by court docket proceedings, providing important insights into his determination to pursue the deal. These texts included him expressing considerations about free speech on Twitter to his pals and future co-funders. He additionally was involved about how the deal would possibly go in gentle of the Ukraine-Russia struggle.

Oct. 4, 2022: Musk despatched a letter to Twitter saying he would conform to pay the unique $52.40 value to take the corporate non-public. It stays unclear if Twitter will settle for Musk’s provide.



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