What is the story behind Twitter?
Twitter is a social media company started by four college students in 2006. It was started with the aim of connecting people all over the world. Today, it has become a space where people share their views, discuss various things, and form opinions. Before 2013, Twitter was only owned by the four college students who made it. But now, many people collectively own Twitter. In April 2022, Elon Musk offered $44 billion to buy Twitter. But in July 2022, he withdrew his offer.
Why did Elon Musk try to buy Twitter?
Elon Musk believes that Twitter is important for the future of democracy. He also believes everyone should be allowed to share their views on Twitter even if they are harmful to others. Musk was about to own Twitter, but something made him withdraw his offer. Let’s find out what that was!
Why did Elon Musk withdraw his offer?
The issue between Elon Musk and Twitter is about spam bots or fake accounts. Musk believes that the spam bots are causing financial loss to Twitter and spreading fake information.
Musk asked Twitter to give him all information on spam bots before finalising the deal. According to him, Twitter did not do so. This was the reason he withdrew his offer.
Twitter said that it gave Musk all the information and that he cannot withdraw his offer because of this reason.
What will happen in the future?
Twitter has announced that it will go to court and stop Elon Musk from withdrawing his offer. Now, only three things can happen:
(1) Musk and Twitter wait for the court to decide who is right. (2) Musk agrees to buy Twitter.
(3) Musk can pay Twitter for withdrawing from a confirmed deal.
While this issue resolves, people can still keep using Twitter to connect with each other.
