Jack Dorsey commends Elon Musk's Twitter buyout, says he is 'the singular solution'

• Twitter co-founder and former CEO Jack Dorsey has praised Elon Musk's bid to take the company private.
• He thinks Musk "is the singular solution" for the social media platform.
• Early Monday, Twitter agreed to sell itself to Musk for approximately $44 billion.

Jack Dorsey, the former CEO and co-founder of the social networking platform, has thrown his weight behind the offer by Musk to buy the company.

The board of the company agreed that Musk would own the platform and make it private.

The board of directors and Musk reached an agreement on Monday in a surprising twist to the saga. The board warmed to his takeover bid after securing financing for his offer.

When the proposed transaction is completed, the company's stockholders will receive cash for each share of common stock they own. Once the deal goes through, it will be private.

RECOMMENDED VIDEOS FOR YOU...

The plan to take the service private is the correct first step, according to Dorsey.

It has been owned by Wall Street and the ad model. Taking it back from Wall Street is the correct first step.

He said that he doesn't believe anyone should own or run the social networking site.

It wants to be a public good at a protocol level, not a company. I trust that he will extend the light of consciousness.

Musk's goal of making the platform "maximally trusted and broadly inclusive" is the right one, according to Dorsey.

He said that he gave up the top position at the company to Musk in November of last year because he shares Musk's goals.

Thank you both for getting the company out of an impossible situation.

His praise for Musk is unsurprising, given that he supported Musk's bid to take the company private even before the board agreed to a deal with him.