TECHNOLOGY

Twitter is working toward ‘closing the transaction process’ with Elon Musk

If attendees at Twitter’s annual shareholder assembly had been hoping to sure up confusion surrounding Elon Musk’s acquisition of the firm, they seemingly left disillusioned. Irrespective of various questions referring to the methodology forward for Twitter, the firm’s executives had dinky to notify about Musk, who did no longer wait on the assembly.

“We’re working thru the transaction process,” CEO Parag Agrawal talked about all the procedure thru the assembly. The location of the deal has been just a dinky of unclear since Musk launched it became “on preserve,” attributable to his concerns about bots on the platform. Twitter executives have maintained they are nice looking forward with their plans.

“Even as we work in direction of closing this transaction, our groups and I dwell interested by the well-known work we cease on every day foundation to back the general public dialog,” Agrawal talked about.

Twitter had talked about before the assembly that it wouldn’t reply questions associated to Musk’s acquisition of the firm, which will have to be formally authorized by Twitter stockholders at a later date. Even so, shareholders tried to uncover Twitter executives to take care of the difficulty. The very first request of in the Q&A fragment of the assembly requested what’s going to happen to Twitter shareholders’ inventory if “someone” buys the firm and takes it non-public. “We are now unable to take care of these questions right this moment,” Sean Edgett, Twitter’s Traditional Counsel, talked about, directing other folks to the firm’s outdated SEC filings.

Shareholders also raised questions referring to the methodology forward for the firm’s announce material moderation insurance policies. Agrawal talked about the firm stays “focused” on fresh its contemporary insurance policies and “lowering our reliance on user reports.” Though he didn’t at once take care of feedback Musk has made about loosening its ideas, he talked about that “silencing political commentary is antithetical to our dedication to free speech.”

The assembly also marks the cease of co-founder Jack Dorsey’s tenure with Twitter. He had stepped apart as CEO in November, but remained on the board of directors till the assembly. As with critical of Twitter’s future, it became unclear who will succeed him.

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