Is it a $44 billion takeover by Musk? It became less certain.
On Friday, Musk said that the deal had been put on hold due to the calculation that fake accounts represent less than 5% of users.
The calculation comes from the SEC filing that was made on May 2.
Tweet may have been deleted
The average number of false or fake accounts during the first quarter of the year is estimated to be less than 5% of the mDAU. The average of false or spam accounts in the samples during the quarter is the false or spam accounts for a period. In making this determination, we applied significant judgment, so our estimation of false or spam accounts may not accurately represent the actual number of such accounts, and the actual number of false or spam accounts could be higher than we have estimated.
The suspension of a large number of spam, malicious automation, and fake accounts was caused by improvements to its spam detection capabilities.
The company said they intend to make improvements.
The potential new owner of the platform has pledged to eradicate the use of fake accounts, which has been a thorn in Musk's side for a while. He plans to vastly increase the number of users in the next couple of years.
Musk did not offer any further details, but the wording of his message implied that he doesn't believe that only 5% of users are fake.
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