Twitter Quarterly Outcomes: Social media firm Twitter’s March quarter revenue was $513 million. On Monday this week, billionaire businessman Elon Musk made a deal to purchase Twitter. Twitter mentioned on Thursday that its income grew 16 p.c to $1.2 billion between January and March. The variety of Twitter customers additionally elevated by 16 p.c within the reporting interval in comparison with final yr. The day by day common variety of energetic customers is 229 million.
Musk closes to proudly owning Twitter
The Twitter board has authorized Musk’s takeover bid for about $44 billion, making him very near proudly owning the social media platform. The deal is anticipated to be accomplished this yr, however has but to be authorized by shareholders and US regulators.
Twitter’s board authorized the deal on Monday
Musk provided to purchase Twitter on April 14. Musk has mentioned he needs to purchase Twitter as a result of he does not suppose it’s dwelling as much as its potential as a platform free of charge expression. Twitter’s board on Monday unanimously authorized his proposal and really helpful shareholders to do the identical. The deal occurred with a 38 p.c premium to Twitter’s closing worth on April 1.
Twitter board initially tried to cease the takeover
Twitter’s board initially tried to dam Musk from taking on, however issues modified dramatically when Musk made a suggestion of $46.5 billion, saying that $21 billion could be invested by him himself. Musk mentioned that different traders may also contribute to this.
Musk has huge enterprise expertise. He’s the CEO of Tesla, which is about 25 instances the dimensions of Twitter.
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