Tag: Elon Musk-Twitter deal

Elon Musk doesn’t seek a “hellscape for Twitter
28Oct By adminNo Comments
Technology

Elon Musk doesn’t seek a “hellscape for Twitter

[ad_1] Elon Musk is telling Twitter advertisers he is buying the platform to “help humanity”. Elon Musk is telling Twitter advertisers he is buying the platform to “help humanity” and doesn't want it to become a “free-for-all hellscape” where anything can be said with no consequences. The message to advertisers posted Thursday on Twitter came a day before Musk's deadline for closing his $44 billion deal to buy the social-media company and take it private. “The reason I acquired Twitter is because it is important to the future of civilization to have a common digital town square, where a wide range of beliefs can be debated in a healthy manner, without resorting to violence,” Musk wrote, in an unusually-long message for the billionaire Tesla CEO who typically projects his thoug...
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Shocking U-turn! Here is what Elon Musk wants Twitter to be
28Oct By adminNo Comments
Technology

Shocking U-turn! Here is what Elon Musk wants Twitter to be

[ad_1] Elon Musk's Twitter deal's completion marks an end to a six-month-long saga. Elon Musk, who once tweeted "I hate advertising", did a shocking U-turn today and said he wants Twitter Inc to be "the most respected advertising platform", in a bid to gain the trust of ad buyers ahead of the expected close of his $44 billion deal for the social media firm.Musk, Twitter co-founder Jack Dorsey and investors in the deal had previously suggested moving away from advertising and seeking revenue from subscriptions and other means. Advertisers have also told Reuters they were apprehensive of the takeover. "There has been much speculation about why I bought Twitter and what I think about advertising. Most of it has been wrong," Musk said in a tweet on Thursday. "Fundamentally, Twitter aspire...
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For new Twitter owner, the eccentric Elon Musk, the hard part starts now
28Oct By adminNo Comments
Technology

For new Twitter owner, the eccentric Elon Musk, the hard part starts now

[ad_1] Now Elon Musk will have to prove why he believes that Twitter is worth 10 times that amount. Overspending on Twitter Inc for $44 billion was the easy part. Now, Tesla Inc Chief Executive Elon Musk must prove why he believes that Twitter is worth 10 times that amount and turn around a social media platform that he has spent months ridiculing. Earlier this month, the outspoken billionaire said: "Myself and the other investors are obviously overpaying for Twitter right now. The long term potential for Twitter in my view is an order of magnitude greater than its current value." Musk has provided few concrete details about his plans, and what he has shared appears far-fetched or contradictory. Here is what lies ahead for Musk, the self-proclaimed "Chief Twit", according to c...
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Elon Musk: Tech genius, impulsive, infuriating and now, new social media king
28Oct By adminNo Comments
Technology

Elon Musk: Tech genius, impulsive, infuriating and now, new social media king

[ad_1] Elon Musk took charge of Twitter on Thursday and fired its top executives. Elon Musk is at turns ingenious, impulsive and infuriating. He is also a corporate maverick, unafraid to tackle myriad industries by his own rules. After revolutionizing the auto industry, sending his own rocket to space -- with his car on board -- and building the world's biggest fortune, the eccentric billionaire is the new king of social media after he took charge of Twitter on Thursday and fired its top executives. That will give him control of the network on which the world debates, mobilizes, bickers and throws shade, Musk often first among them. The deal will also fuel the fire over his political views, business methods, outsized personality and unconventional personal life -- flames he doe...
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‘Chief Twit’ Elon Musk To Sack Twitter Employees? Scary? Here Is Truth
27Oct By adminNo Comments
Technology

‘Chief Twit’ Elon Musk To Sack Twitter Employees? Scary? Here Is Truth

[ad_1] Elon Musk is all set to take over the company and employees are running scared. Elon Musk told Twitter Inc. employees on Wednesday that he doesn't plan to cut 75% of the staff when he takes over the company, according to people familiar with the matter. Musk, whose $44 billion deal for Twitter is on track to close Friday, denied the previously reported number in an address to employees at the company's San Francisco office, said the people, who declined to be named because the information isn't public. The billionaire is still expected to cut staff as part of the takeover, causing anxiety among workers. Earlier on Thursday, Musk posted a video clip of himself walking into the offices carrying a kitchen sink. He changed his Twitter profile description to read “Chief Twit.” ...
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‘Overpaying’ Elon Musk on deadline to close Twitter deal
27Oct By adminNo Comments
Technology

‘Overpaying’ Elon Musk on deadline to close Twitter deal

[ad_1] Elon Musk looks set to meet a Friday deadline to seal his on-again, off-again deal to buy Twitter, avoiding a trial over the $44 billion contract that he admits is overpriced. Elon Musk looks set to meet a Friday deadline to seal his on-again, off-again deal to buy Twitter, avoiding a trial over the $44 billion contract that he admits is overpriced. After he sought to terminate the sale, Twitter filed a lawsuit to hold Musk to the agreement he inked in April to purchase the social media giant. With a trial looming, the unpredictable billionaire capitulated and revived his takeover plan. Musk signaled the deal was on track Wednesday by changing his Twitter profile to "Chief Twit" and posting a video of himself walking into the company's California headquarters carrying a ...
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Twitter Layoffs Coming? Here Is Truth
21Oct By adminNo Comments
Technology

Twitter Layoffs Coming? Here Is Truth

[ad_1] Twitter told staff that there haven’t been plans for companywide layoffs since it signed a deal to be acquired by Elon Musk. Twitter Inc., confronting reports that Elon Musk aims to gut its workforce as part of his takeover, told staff that there haven't been plans for companywide layoffs since it signed a deal to be acquired by the billionaire. In a memo seen by Bloomberg News, Twitter General Counsel Sean Edgett warned workers to expect “tons of public rumors and speculation” as the closing of the deal nears. “We do not have any confirmation of the buyer's plans following close and recommend not following rumors or leaked documents but rather wait for facts from us and the buyer directly,” he said. The Washington Post reported that Musk's plan for Twitter involve slashin...
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Elon Musk’s Twitter Mess Would Never Happen in the UK
17Oct By adminNo Comments
Technology

Elon Musk’s Twitter Mess Would Never Happen in the UK

[ad_1] UK's takeover regime isn’t kind to private buyers. But its protections help prevent sagas like Elon Musk bid for Twitter. The UK takeover regime isn't kind to private equity buyers. It got even tougher after Kraft Foods Inc.'s bitter acquisition of rival confectioner Cadbury in 2010. But are its rules too restrictive? If the leveraged finance market bounces back, UK stocks should be a prime hunting ground for the private equity industry. Yet local M&A rules are often seen as a brake. Blair Jacobson, co-head of European credit at Ares Management, told a Financial Times summit last week that “everything in the UK is on sale” and weak sterling was an advantage for US dollar-denominated funds. At the same time, he cautioned that negotiating the takeover regulator's require...
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Elon Musk Investigated by US Authorities Over Twitter Deal, Says Company
14Oct By adminNo Comments
Technology

Elon Musk Investigated by US Authorities Over Twitter Deal, Says Company

[ad_1] Twitter Inc.’s lawyers asked a Delaware court for access to correspondence between Elon Musk and feds. Twitter Inc.'s lawyers asked a Delaware court for access to correspondence between Elon Musk and federal authorities investigating him in connection with his attempt to take the social media company private. “Elon Musk is presently under investigation by federal authorities for his conduct in connection with the acquisition of Twitter,” attorneys for Potter Anderson Corroon LLP wrote in a filing dated Oct. 6 and unsealed Thursday. “Through counsel, he has exchanged substantive correspondence with those authorities concerning their investigations,” they said. “Twitter wants those documents, because they bear upon key issues in this litigation.” The US Securities and Exch...
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