Twitter, the world's most hyped social media company, finally announced on Monday (April 25) that its board of directors has accepted the acquisition plan proposed by Tesla founder Elon Musk, while also accepting its proposal to go private, and the acquisition will be completed within this year.
Elon Musk tweeted a brief statement: Free speech is the cornerstone of democracy, and Twitter is a digital plaza where people can discuss things that are vital to the future development of humanity. Hopefully, by using new features, algorithms open source to increase user trust, and then solve spam bots and biometric authentication of all users, Twitter will be better. Twitter has great potential, and I look forward to working with companies and users to start a better future." The statement said Musk has received $25.5 billion in full committed station maintenance and margin loans and provided $21 billion in equity commitments to complete the transaction.
Bret Taylor, chairman of Twitter's board of directors, said: "Twitter's board of directors has considered Musk's acquisition plan in various ways, especially in terms of merger value, certainty and financing. The deal will result in a substantial cash premium, which is believed to be the best option for Twitter shareholders.
Dogecoin
After Twitter said it accepted Musk's offer, the doge price rose 27 percent. Musk has always been a cluster of the crypto industry, in addition to its own DOGE, Tesla is also one of the companies with the most BTC. Musk has publicly stated that he has mentioned in his twitter recommendations to allow users to pay with Dogecoin.
Doge founder Shibetoshi Nakamoto tweeted that he hopes Dogecoin will add several useful features: improve business applications, act as a tip currency, and build a bridge between it and Ethereum to allow it to be used on Web3. Musk said the first affirmation, the second is good, and the third doesn't need it. Therefore, it is believed that under Musk's acquisition, Dogecoin will appear on Twitter.
But when Musk buys Twitter, who will be the CEO of the new Twitter? What role can Musk play in Twitter? Can it really be liberalized as Musk wants?
We'll just have to wait and see.