Elon Musk put the Twitter acquisition on hold after the latter declined to share the user’s data with him. We thought it would become a stalemate because Twitter wasn’t interested in sharing the data on bot accounts and spam.
But Twitter agreed to conform to Musk’s requests for complete information on bot accounts. The Washington Post reported that Twitter will share its full ‘firehose’, a database that contains details of everything posted on the platform.
For your reference, over 500 million tweets find a home on the platform every day.
Why did Twitter agree to Elon Musk’s demands?
The agreement between both parties clearly states that Musk is entitled to the information. It includes information “for any reasonable business purpose related to the consummation of the transaction”. Twitter earlier published a report and disclosed that the number of bit accounts was well below 5%. It is an acceptable range for any social media platform.
But Elon Musk wasn’t content with the report and asked for direct access to the Twitter data. Parag Agrawal explained in a Twitter thread citing the reasons why he couldn’t share the data.
But that didn’t have any effect on Musk and the recent developments showcase that the deal wouldn’t move forward unless demands are met.
“Mr. Musk believes Twitter is transparently refusing to comply with its obligations under the merger agreement, which is causing further suspicion that the company is withholding the requested data due to concern for what Mr. Musk’s own analysis of that data will uncover,” Musk’s legal team said in a letter (Source: ArsTechnica).
Twitter’s spam estimations failed to convince Musk but this new decision will set the deal back on track. This year hasn’t been generous to Twitter as the social media platform faces many hurdles.
With declining ad revenue due to Apple’s ATT measures, employees exposing the left-oriented thought process of company policies, a decrease in hiring, and tanking share prices, the $44 billion deal needs to go through. Twitter also mentioned that it shared the internal database only with two dozen companies that pay a lot of money to get access to the data treasure trove.