Twitter expects a shareholder vote on its $44 billion sale to Elon Musk in early August, as it continues working constructively to close the transaction with the world’s richest person, top executives told employees on Wednesday, according to Reuters.
Musk’s attorneys informed Twitter on Monday that if the business fails to produce the data he seeks on spam and bogus accounts, he may walk away from the deal.
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Twitter has stated that it is still sharing information with Musk. According to sources acquainted with the topic, the “firehose” is a database of all tweets on the platform examined by various factors, such as user devices or profiles of accounts that publish tweets.
According to the sources, Twitter sells this data to social media monitoring firms in the form of its licencing business but wants to give it to Musk for free as part of data exchange. The sources also stated that the firehose does not contain confidential information, such as private details of Twitter users that are not public or how frequently they verify their accounts.
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Twitter CEO Parag Agrawal stated last month that he did not believe a computation of bogus and spam accounts could be made outside of the firm since it would require private information that Twitter would not provide.
It was unclear how much sensitive information regarding Twitter’s user base Twitter would share with Musk. The Washington Post was the first to report about the firehose sharing.
A request for comment from Musk was not immediately returned to Reuters.
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Vijaya Gadde, Twitter’s senior legal aide, told an employee gathering that the company expects to hold a shareholder vote on Musk’s acquisition in late July or early August.
Twitter’s top executives stated during the internal meeting that the business was striving to bolster its defences against fraudulent accounts and accounts that spread bitcoin spam.