After addressing a tech conference that he believes at least 20% of Twitter’s accounts are bots, Elon Musk has indicated that he intends to spend less than $44 billion for the network.
According to the Associated Press, Elon Musk, who revealed last week that his bid to purchase Twitter was “temporarily on hold,” told the All In Summit that a lower price arrangement for the firm was feasible.
According to Bloomberg News, who watched a livestream of the event, Mr Musk indicated that the percentage of bots among Twitter’s 229 million accounts was at the low end of his estimate.
Twitter shares closed Monday down 8% at $37.39, while Mr Musk proposed to acquire the firm for $54.20 on 14 April.
The world’s richest individual has announced he will purchase Twitter with billions of dollars of Tesla shares, yet the electric vehicle maker’s price has dropped by more than 27% in the last month.
Some analysts have speculated that Mr Musk may try to back out of the arrangement, which would cost him $1 billion.
Earlier in the day, Mr Musk sent Twitter CEO Parag Agrawal a poop emoji after he said that conducting an external study to ascertain the number of bots and bogus accounts would be tough.
Mr Agrawal tweeted, “Unfortunately, we don’t believe that this specific estimation can be performed externally, given the critical need to use both public and private information (which we can’t share).”
“Externally, it’s not even possible to know which accounts are counted as mDAUs on any given day.
“There are LOTS of details that are very important underneath this high-level description. We shared an overview of the estimation process with Elon a week ago and look forward to continuing the conversation with him, and all of you.”