Twitter Executives Unclear About Future Of Company Under Musk

Twitter Executives Unclear About Future Of Company Under Musk

During a meeting held by all shareholders of social media company Twitter, there were a lot of questions asked regarding the direction they would be taking and when the deal with Tesla owner Elon Musk would be finalised, but no real answers were given.

Twitter CEO Parag Agrawal simply said that they were “…working through the transaction process” of Musk’s takeover. The billionaire himself recently stated that the deal was “on hold” after the alarming number of bots that were located on the platform.

“Even as we work towards closing this transaction, our teams and I remain focused on the important work we do every day to serve the public conversation,” added Agrawal, in an attempt to divert attention from the topic.

Despite the fact that the company had mentioned before the start of the meeting that it would not be answering questions regarding Musk’s takeover, shareholders could not contain their curiosity. The company has entered a transitional phase, with marketers and advertisers unsure of how to approach it and if it associates with everything that Musk himself says on his own account.

The billionaire previously stated that he has plans to loosen the platform’s rules, pointing out that “silencing political commentary is antithetical to our commitment to free speech.” Agrawal did not touch on these topics during the shareholder meeting.

This was also the last commitment for Jack Dorsey as a member of the Twitter board of directors. The social platform’s co-founder and ex-CEO had officially resigned from his role back in November, yet was still part of the board until the meeting that was held earlier today.

In other Twitter-related news, the company was found guilty of violating the US Federal Trade Commission Act and a previous court order from 2011 after it used members’ phone numbers and email addresses for targeted advertising without their knowledge. The company will be called to pay the amount of over $210 million after a settlement agreement with the US Department of Justice.

Twitter was asking its users to enter their data to increase security of their accounts, yet it went on to use that data for its targeted advertisements, which is a heavy violation of their privacy rights.

Please login with linkedin to comment

Elon Musk jack dorsey Twitter

Latest News