Twitter will become a privately held company and will no longer have its shares traded on any stock exchange, upon the completion of the acquisition. Billionaire Elon Musk just bought Twitter for $44 billion in a bid to improve user experience and defeat ‘spam bots’.
“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated”, Musk said. “I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans. Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it,” Musk said in a Twitter statement.
Musk had complained about Twitter’s moderation of posts that it deems hateful or classifies as disinformation prior to his push to take over the company, but it remains unclear how the potential change of ownership may affect the day-to-day user experience.