Elon Musk warned that he reserved his rights. right to “not complete” The company owns the social network for $44,000 million (41,041 million euros) to buy Twitter because of its resistance to meet requests for information about false user accounts, ‘spam’ and ‘bots’, which the company sees as a breach of its obligations.
Twitter shares fell more than 4% after Wall Street opened, trading at $38.59, well below the share price of $54.20. purchase offer It was planted by Musk.
In a letter sent by Musk’s lawyers and published by the United States Securities Market Commission (SEC), business man legal team He warns that Twitter’s behavior to date has made Musk believe it is “actively resisting and obstructing information rights under the merger agreement.”
“This is a clear material breach of Twitter’s obligations under: merger agreement and Mr. Musk reserves all rights arising, including the right not to complete the transaction and the right to terminate the merger agreement.”
On May 13, the businessman decided temporarily suspend the purchase Twitter is waiting to learn more details about the proportion of fake accounts and “bots” in the social network’s total active users, but claimed it was “still determined to buy”.
Twitter in SEC filings”the inherent challenges of measuring use and interactionHe added that some of the social network’s large number of total accounts worldwide may be affected by metrics efforts to reduce malicious activity on the service, including spam, malicious automation and fake accounts.
In this sense, the company calculates, after internal review of an account sample, that the average number of fake accounts, or ‘spam e-mailIn the first quarter of 2022, it “represented less than 5%” of active monthly users in this quarter.
Twitter, however, fake accounts or ‘spam’ may “not accurately represent the true number of such accounts”, acknowledging that the actual number of active fake or ‘spam’ accounts on the social network “may be higher than anticipated”.
In the presentation of the results for the last first quarter 28 April, Twitter admitted to a bug where it overestimated the calculation of monetizable active journal users from the first quarter of 2019 to the fourth quarter of 2021 than with almost two million accounts.
In this sense, Twitter later announced with its launch. March 2019 a feature that allowed multiple individual accounts to be linked was “an error was made at the time” so that actions taken through the primary account would cause all linked accounts to be counted as active users.
“As a result, a overestimation of mDAU From the first quarter of 2019 to the fourth quarter of 2021,” the company reported, thus reducing the number of active daily redeemable users to 214.7 million at the end of 2021, compared to the initially estimated 216.6 million.
Specifically, the company had calculated a surplus of 1.5 million mDAU internationally. 178.8 million instead of the real 177.3 millionA total of 37.8 million mDAU was estimated in the United States, while 37.5 million mDAU was estimated in the data updated after error correction.
This is the second time Twitter has admitted to a similar miscalculation in one of the market’s most closely watched variables since 2017. overestimated its active users for three years.