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HomeNewsElon Musk makes new statement on Twitter deal as deadline nears

Elon Musk makes new statement on Twitter deal as deadline nears

Elon Musk revealed extra of his imaginative and prescient for Twitter on Thursday with a message to advertisers — an indication that the tech titan’s $44 billion acquisition of the social media platform is shifting ahead forward of a court-ordered Friday deadline to seal the deal.

In a post on Twitter addressed to the platform’s advertisers, Musk, who has changed his Twitter biography with “Chief Twit” and made his location “Twitter HQ,” mentioned he desires to see Twitter grow to be a worldwide chief in promoting and model consciousness.

“Twitter aspires to be essentially the most revered promoting platform on this planet that strengthens your model and grows your enterprise,” he mentioned.

As a lot as 92% of Twitter’s income comes from promoting gross sales: In its most up-to-date quarter, Twitter generated $1.08 billion in advertisements out of a complete of $1.18 billion in revenues. These figures missed analysts’ expectations, signaling flagging development for the 16-year-old web site.

However Musk mentioned in his put up that he’s not shopping for Twitter to “earn more money.” As an alternative, he mentioned, he’s doing so “as a result of you will need to the way forward for civilization to have a typical digital city sq., the place a variety of beliefs will be debated in wholesome method, with out resorting to violence.”

He mentioned “Twitter clearly can’t grow to be a free-for-all hellscape, the place something will be mentioned with no penalties.”

But, given Twitter’s reliance on advertisements, Musk addressed how be believes advertisements ought to work on the platform. They need to have the ability to “delight, entertain, and inform” customers, he mentioned.

“It’s important to point out Twitter customers promoting that’s as related as attainable to their wants,” Musk mentioned. “Low relevancy advertisements are spam, however extremely related advertisements are literally content material!”

Musk posted a video to Twitter yesterday exhibiting him coming into the corporate’s San Francisco headquarters with a sink, accompanied by the textual content “Let that sink in!”

The Wall Avenue Journal reported Thursday that banks Musk had tapped to fund the acquisition had begun turning over money to an escrow account, one other signal that the deal is on observe. As soon as accomplished, it might finish months of acrimony that noticed Musk make an preliminary bid for the platform, solely to reverse course over issues concerning the quantity of pretend and spam accounts. That prompted Twitter to sue Musk, teeing up a courtroom trial that was set to begin earlier this month earlier than Musk out of the blue re-submitted his unique supply to avert the competition.

A spokesperson for Twitter didn’t instantly reply to a request for remark.

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