Elon Musk has hit the brakes on his proposed takeover of Twitter in light of the platform's insistence that spam accounts accounted for less than 5 percent of its daily active users.
The figure was raised in an SEC filing on Monday, the company's latest earning release [PDF], where it said "there are a number of false or spam accounts in existence on our platform."
The company continued in the filing: "We have performed an internal review of a sample of accounts and estimate that the average of false or spam accounts during the first quarter of 2022 represented fewer than 5 percent of our mDAU [monetizable daily active users] during the quarter."
Musk is in the throes of a Twitter acquisition with a $54.20-a-share deal, comfortably above current stock price of the platform. The deal, however, has yet to close and, free-speech pronouncements from the billionaire ...
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