Kasturi Links Agreement Progress on Source for Spam Bot Sharing on Twitter

  • Looking for evidence that spam bots make up less than 5% of users
  • Twitter promises a deal at an agreed price
  • Twitter shares are trading at $ 36.31 compared to the $ 54.20 offer

May 17 (Reuters) – Elon Musk on Tuesday said his $ 44 billion offer would not go as far as Twitter Inc. (TWTR.N) Evidence shows that spam bots make up less than 5% of its total users.

“My offer is based on the accuracy of Twitter’s SEC filings. Yesterday, the CEO of Twitter publicly refused to show <5% (spam accounts) proof. This deal will not go ahead until he does," Musk said in a tweet.

A few hours later, Twitter said it was committed to concluding the deal “in practice as soon as possible” in terms of agreed pricing and terms.

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Its shares overcame losses in freemarket trading, but Musk was about 3% lower at $ 36.31 the day before its Twitter share issue, raising doubts about whether the billionaire businessman could pursue the $ 54.20 per share offer.

Twitter drops on May 16th

Musk said at least 20% of users suspect they are, compared to Twitter’s official rating of 5%, after suspending his offer while information about spam accounts was pending last week.

“You can’t pay the same price for something worse than what they say,” he told the All-in-Summit 2022 conference in Miami on Monday.

Asked if a deal at a different price was possible, Musk said, “I mean, it’s not out of the question. The more questions I ask, the more my worries grow.”

“They say that only they can understand this complex mechanism … it could not be more complex than the human psyche or some deeper mystery like that.”

Twitter CEO Barack Agarwal tweeted on Monday that internal ratings of spam accounts on the social media site have been “less than 5%” over the past four quarters, in response to Musk’s criticism of the company’s handling of fake accounts.

Agarwal said Twitter’s rating, which has been the same since 2013, could not be recreated externally considering the need to use public and private information to determine if an account is spam.

Musk responded with a boob emoji to defend Agarwal’s method. “So how do advertisers know what they’re getting paid for? This is fundamental to Twitter’s financial health,” he wrote.

While promising to crack down on “spam bots”, Musk has vowed to make changes to Twitter’s content measurement practices against decisions such as a ban on former President Donald Trump. read more

Musk has called for tests of random samples of Twitter users to identify bots. “It may be more than 90% of the users who are active on a daily basis,” he said.

He expects the total number of Twitter users to reach nearly 600 million by 2025 and 931 million in six years.

“Musk considers a maximum of 80% of Twitter’s current 229 million (users) to be human, and it’s even harder to believe that the company can achieve its long – term goals,” said Jefferies analyst Brent Dill.

Report by Katie Paul & Hyunzu Jin in San Francisco, Crystal Hu in New York and Nivedita Balu and Shubham Galia in Bangalore.

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