Simply put, Twitter is navigating through muddy waters at the moment. Late last week, the social media behemoth cut ties with not one, but two of its leading executives. First, consumer product leader Kayvon Beykpour logged on to the app and let his followers know that he had been asked to leave because his team was headed in a “different direction.” Not long thereafter, Bruce Falck, the general manager of revenue, let his followers know that he was also let go. In response, Twitter CEO Parag Agrawal issued a public statement regarding the company’s new direction.
“We announced changes to our leadership team and operations yesterday. Changes impacting people are always hard. And some have been asking why a ‘lame-duck’ CEO would make these changes if we’re getting acquired anyway. The short answer is very simple: While I expect the deal to close, we need to be prepared for all scenarios and always do what’s right for Twitter. I’m accountable for leading and operating Twitter, and our job is to build a stronger Twitter every day,” Agrawal tweeted.
In the midst of Agrawal’s restructuring, Elon Musk issued a few tweets of his own. He let his followers know that his proposed acquisition of the company had been “temporarily put “on hold.”
“Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,” he tweeted.
Not long after Musk’s tweets were shared online, Twitter’s hare price dropped more than 10%.
Despite concerns, it appears that Musk is “still committed” to acquiring Twitter.
