Musk talked about his plans to buy the social network in mid-April. The billionaire said he wanted to change the site’s moderation rules that have been criticized in recent years and make the social network “an expression of freedom of expression worldwide.”

Even though the company’s board of directors objected to this right after this announcement, it seems that the negotiations were still successful. On April 24, several major publications announced that the deal could be signed in the near future, and it happened on April 25 – Elon Musk bought Twitter for $44 billion.

Twitter issues

Mask doesn’t like the moderation status of content and posts on the platform, not only that. Twitter has received a lot of criticism in recent years for a series of at first glance uncertain steps.

Last year, the company took perhaps the most radical step in its history – it blocked the account of former US President Donald Trump. According to the leadership of the social network, Trump’s messages could inspire users to protest similar to the storming of the Capitol on January 6, 2021.

The company is still criticized not only by Republican Party members, but also by conservative users. According to them, blocking Trump’s account is against the US Constitution.

However, moderation alone has not become a problem for Twitter. In 2018 and 2019, the company made a profit, but In red from 2020. Getting over the black bar didn’t help launch analog Stories – Twitter Fleets. Eventually, the function was abandoned.

Later, users tried to offer something like Clubhouse. gaps. But the service has not yet been successful. Hope remains for a paid subscription.

Elon Musk will likely be able to come up with a lot of fresh and fresh ideas that will make Twitter great again.

will close the deal

It is worth noting that the agreement between the company and the billionaire does not mean that it will be signed. The U.S. Securities and Exchange Commission may intervene at any stage. So far, the SEC has not accused Mask of violating any rules, but the situation is already under review, including how the billionaire increased his stake in the company and public statements about buying the company.

Musk briefed the SEC about the purchase of a major stake on Twitter 11 days after the statutory deadline. The lawsuit, which former Twitter shareholder Mark Russell recently filed against Mask, said that the late submission of the report on the acquisition of shares in the company allowed the entrepreneur to save $143 million, while also causing huge losses for investors.