Twitter will comply with Elon Musk’s fake account data request

Twitter plans to comply with Elon Musk’s request for internal data on spam bots and fake accounts, after threatening to back out of the deal. Washington post Reported Wednesday. According to a source close to the negotiations, the company said it would offer access to so-called “fire data”, which contains a real-time log of more than 500 million tweets posted daily and information about accounts and devices. To which publications are sent.

The deal is intended to advance Musk’s pending $44 billion deal to acquire Twitter. On Monday, the billionaire officially threatened to back out of the acquisition, accusing the company of deceiving the bot’s customers by hiding internal data. The move is widely seen as an excuse to lower the price of the deal, as Twitter shares tumbled on the valuation Musk offered to buy the company. Some analysts suggest he plans to exit completely because he has invested more than $33 billion of his own money, mostly related to the crash in Tesla shares, to buy Twitter.

“Twitter, in fact, has refused to provide the information that Musk has repeatedly requested since May 9, 2022 to facilitate its assessment of spam and fraudulent accounts on the company’s platform,” Musk’s lawyers wrote in a message on Twitter. When submitting titles to the Commission. “Twitter’s latest offer to simply provide additional details about the company’s own testing methodologies, either in writing or orally, amounts to refusing to ask for Musk’s data.”

Twitter has repeatedly said it will abide by the deal.

Twitter is changing after shareholder John Solak sued the company at the Delaware Chancellery to force the social media platform to share internal documents about the information Musk seeks. He accused Twitter of not disclosing the number of bots that make up its 230 million users, violating its duty to investors.

While PhiHouse’s data could hypothetically tell us a lot about spam and bot activity, it’s unclear how Musk’s team will use this amount of data. Musk may find it difficult to walk away from the deal on the grounds that Twitter made a material misrepresentation on which it relied, as the company has qualified to present figures that estimate spam accounts for less than five percent of its monetized daily active users. . . be very low

“We made an important decision in making this discovery, so our assessment of fake or spam accounts may not accurately represent the actual number of such accounts, and the actual number of fake or spam accounts may be higher than we estimate,” the statement said. SEC. . it’s a declaration. . The entry reads.

In addition to reducing Muskie’s chances of retrading, there is no industry standard for calculating monetizable daily active users. Estimation of numbers is based on internal definitions. Twitter qualified in the presentation of values ​​that its measurements may differ from those of third parties.

The acquisition proposed by Musk on Twitter includes a $1 billion demolition fee, but also includes a clause that allows the company to force him to execute the deal. If either party sues, the court can order Musk to complete the purchase.

After unilaterally suspending the takeover plan for Twitter, Musk has caused the company’s stock to tumble amid continued criticism and uncertainty over whether he will take control of the social media platform. Twitter was sued in May by the Florida Pension Fund for trying to block the deal.