Musk agreed to buy Twitter for $44 billion from the social media platform. Elon Musk, CEO of Tesla, wants the world to know that Twitter is changing.
Twitter announced on Monday that it has reached an agreement with Musk, who will buy the influential social media site for $54.20 per share in cash, valuing it at approximately $44 billion.
Musk made the statement after declining a position on Twitter’s board of directors. Musk is one of Twitter’s top stockholders, owning 9.2 percent of the firm.
The agreement between Twitter and Musk has spurred debate about what this could imply for the social media site’s future.
The sale appeared doubtful at first, but Twitter’s board allegedly began to take the offer more seriously as Musk gave additional specifics about how he planned to finance the potential acquisition.
Musk has no plans of changing the “Twitter” like button into the “tesla” icon, but rather, he wants to include an edit button that would allow users to edit their tweets.
Twitter users have long demanded the ability to edit their tweets for typos and other errors, but the feature has not been high on the company’s priority list. Twitter’s $3-per-month Twitter Blue subscription level does feature the ability to undo tweets.
Musk brought up the concept of an edit button again on April 4, tweeting another poll. “Do you want an edit button?” he said, misspelling yes and no. More than 4 million votes were cast, with nearly three-quarters in favor of the proposal.
Musk hasn’t said if he believes an edit button is necessary. Twitter announced on April 5 that it has been working on an edit function since last year – “no, we didn’t receive the idea from a poll,” the company’s communications staff tweeted with a winky face emoji. The corporation stated that it will begin testing the tool to determine what works and what is feasible.
Twitter has previously raised concerns that an edit tool might lead to problems such as users sharing tweets that are then edited to distort their meaning. Dorsey even told Wired in 2020 that Twitter will very certainly never offer an edit button.
