Elon Musk’s $44 billion bid to buy Twitter has been put on hold while he investigates fraudulent accounts, according to Twitter’s CEO. Parag Agrawal on the other hand defended the firm’s estimations that spam accounts accounted for less than 5% of users in a series of tweets.
To which, Elon Musk responded with a poo emoji and then later repeated his claim that the company was miscalculating the figures.
According to industry experts, Musk might be looking for ways to renegotiate the price of the deal or instead walk away from it.
These rumours were fuelled even more on May 16 after Bloomberg reported that Musk had said in a tech conference that going with the deal at a lower price was simply ‘not out of the question.’
He further stated that there are spam accounts four times as compared to what Twitter claims. Defending this statement, Parag Agrawal said that he will have a discussion on this issue by collecting data, facts, and context.
Parag Agrawal even added that the company had used a combination of public and private data to decide which all accounts were real and even went through random samples every month. Twitter has also suspended over 500,000 suspected accounts on a daily basis and blocked millions.
Agrawal also stated that the margins of error are well within its estimate of spam accounts representing less than 5% of daily users.
He even said that he further shares this information with Elon Musk.
After Parag’s fair share of tweets, Twitter’s share fell below $38 and slid even more on Monday.