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“Elon Musk aims to boost Twitter’s revenue to $26.4B: report” Elon Musk is aiming to increase Twitter’s annual revenue to $26.4 billion by 2028, up from $5 billion last year, the New York Times reported on Friday, citing a pitch deck presented by the world’s richest man to investors. Advertising will fall to 45% of total…
“Elon Musk, Twitter sued by shareholder over $44B takeover” Elon Musk and Twitter were sued on Friday by a Florida pension fund seeking to stop Musk from quickly completing his planned $44 billion takeover of the social media company. In a complaint filed in Delaware Chancery Court, the Orlando Police Pension Fund said that under Delaware law Musk cannot complete the…
“Elon Musk secures $7.14B from Larry Ellison, others to buy Twitter” Elon Musk has secured $7.14 billion in funding from a coterie of investors including Oracle’s co-founder Larry Ellison to fund his $44 billion purchase of Twitter. Musk, the world’s richest person with a net worth valued by Forbes at $265.4 billion, also received equity…
“Elon Musk plans to take Twitter public again later: report” Elon Musk plans to take Twitter public again in as little as three years of buying the social media company, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. Twitter did not immediately respond to a Reuters request for comment, while…
“Spirit rejects JetBlue takeover offer on antitrust risks” Ultra low cost carrier Spirit Airlines on Monday rejected JetBlue Airways’ $33-per-share takeover offer, saying it had a low likelihood of winning approval from government regulators. JetBlue on Friday had enhanced its offer — but not its $33 per share price — and promised a $200 million reverse break-up fee — or $1.80…
“G/O Media buys business news site Quartz” G/O Media, the owner of a handful of sites that once belonged to Gawker Media, announced Thursday it is scooping up the business news site Quartz. Terms of the deal were not disclosed. Quartz co-founder and CEO Zach Seward told employees in a memo Thursday that he agreed…
“Shaun King, other liberals vow to leave Twitter in protest of Elon Musk” Outraged liberals were fleeing Twitter left and right Tuesday in the wake of Elon Musk’s $44 billion takeover — as prominent progressives claimed the social-media platform would become a “hellhole” with the billionaire Tesla and SpaceX CEO at the helm. Black Lives Matter activist…
“Twitter accepts Elon Musk’s $44 billion bid” Twitter’s board of directors said Monday afternoon that it has accepted Tesla CEO Elon Musk’s $44 billion offer to buy the company — bringing an end to a weekslong saga and ushering in a new era for the struggling social-media platform. Musk, who has said he wants to…
“Twitter set to accept Elon Musk’s $43 billion offer: report” Twitter is reportedly on the verge of accepting Elon Musk’s $43 billion bid to take the social network private, according to a report. Twitter may announce it has accepted Musk’s offer later on Monday once its board has met to recommend the transaction to Twitter…
“House GOP readies probe of Twitter over Elon Musk takeover bid” Congressional Republicans are laying the groundwork for an investigation of Twitter should they retake the majority this fall as the company’s board works to prevent a hostile takeover bid by Elon Musk. Eighteen members of the House GOP conference fired off a letter to…