Musk agreed to pay $54.20 a share for the company in April, Twitter faced criticism for accepting a price that was too low. Musk, who also runs the electric carmaker Tesla and the rocket company SpaceX, did not immediately respond to a request for comment.Ĭompleting the deal was a victory for Twitter’s board. By taking the company private, he does not need to regularly answer to shareholders and can make changes to the service away from the public’s prying eyes. Musk, 51, will be remaking Twitter without having to disclose how it is performing every few months. The firings of the top company executives on Thursday were a sign that Mr. Twitter, which is based in San Francisco and employs more than 7,500 people, has had difficulties consistently growing its advertising-based business and attracting new users. Musk has also promised other sweeping changes at Twitter, including new leadership, job cuts and the pursuit of new ways to make money. “People eventually realize that the Wild West needs a sheriff, both for ensuring the safety of citizens but also for enhancing the prospects for commerce.” “It’s a ‘back-to-the-future’ reversion to content rules circa 2010, but one that ignores the lived experience over the last decade,” said Colin Crowell, Twitter’s former head of global public policy, who left the company in 2019. Here is what that has meant for the journalists writing about the company. A ‘Giant Black Box’: Under its new owner, Twitter has done away with its press department. A review by The Times found that the imagery has persisted on the site.
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