Elon Musk recently announced that the merger agreement that would have seen him buy out Twitter would be terminated. The main reason given was the purported false and misleading claims made by Twitter on the present status quo of its business operations.
The main bone of contention is the apparent number of bots on the Twitter platform which according to the company is less than five percent. The next step would be a court process whereby Twitter will try to enforce the agreement whereas Musk would be aiming for the judge to declare the agreement null and void due to the apparent non-compliance of Twitter.
The downside for Musk is that he may have to shell out a billion dollars as part of a termination agreement if and when the judge decides in the favour of Twitter.
According to industry analysts, the fact that Musk overpaid for Twitter may be part of the reason behind his decision to withdraw from the deal he made with Twitter.
Since making an offer to all the Twitter shareholders the average share price has yet to climb up to even meet the price per share Musk agreed as part of the negotiations. In fact since Musk made the announcement the share price has actually declined in value considerably.
The potential to overpay for such an entity could have a significant impact on the financial stability of Musk despite him being one of the richest men in the world.
Since being launched in 2006, Twitter has changed the domain of expression with its platform that allows its users to post text and visual based updates and commentary using a maximum of 280 characters.
Twitter recently launched its Twitter Notes – which is a feature that allows for more long form writing and somewhat similar to blog posts. This is especially popular amongst ipad development teams that can offer users a longer format ipad development experience across a range of Apple devices and tablets.
Twitter is a worldwide phenomenon and as of 2019 Twitter has over 330 million active users. It is often one of the world’s most visited websites and furthermore launched a social audio feature as well in 2020.
Having registered and logged into Twitter, users can share their thoughts, dreams, words, expressions, comments and much more using text and images.
Once a tweet is published it is instantly shared across the entire world to other Twitter users. If you are a fan of an individual or a celebrity or even an opinionated friend, then you can follow their Twitter account.
By following another Twitter user it is possible to regularly and constantly keep obtaining updates about what content they may be sharing and be updated instantly.
Developing a mobile application just like Twitter is no longer as complex as it used to be and in this regard Elegant Media, a leading Australian mobile app developer can deliver success.
Twitter is here to stay as long as its users have something to say to debate or draw your attention to. It is a popular platform that encourages and empowers communication across the whole world in over 150 languages.