After acquiring the Twitter platform for $44 billion, the owner of electric car manufacturer, Tesla, Elon Musk, has promised to review the restrictions placed by the former owner of Twitter, in other to allow a freedom of speech on the social media platform.
Musk said that the platform would be a adjusted to be user-friendly, such as an edit button and defeating spam bots that send overwhelming amounts of unwanted tweets.
While describing himself as a free speech absolutist, the billionaire, however criticized Twitter’s moderation as well as the algorithm for prioritizing tweets to be public and privileges to corporations advertisers on their services.
Musk decision came after long meeting with Twitter’s stakeholders yesterday to buy the popular social media platform, in which the both parties finally agreed on a $44 billion deal after long period of bidding.
“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated.”
In a statement by Twitter earlier, it said that after a long bidding, Elon Musk agreed on a deal to buy Twitter for $44 billion cash in a transaction that will shift control of the social media platform populated by millions of users and global leaders to the world’s richest person.
During the price negotiation, Twitter said it had agreed to sell itself Musk for $54.20 per share in a transaction valued at $44 billion, equivalent to the 38 percent premium to where Twitter shares closed on April 1, which was the last trading day before Musk disclosed his more than 9% stake in the social media company.
The deal which began over the weekend had appeared uncertain, but after Musk wooed Twitter shareholders with financing details of his offer, it then later started negotiating with Musk to buy the company at his proposed $54.20 per share price.
According to Twitter former boss, Jack Dorse, weighed in on the deal late on Monday with a series of tweets that thanked both Musk and the current Twitter CEO, Parag Agrawal, for getting the company out of an impossible situation.”
“Twitter as a company has always been my sole issue and my biggest regret. It has been owned by Wall Street and the ad model. Taking it back from Wall Street is the correct first step.”
