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    Report: Kenyan millennials and Gen Zs want more media coverage on money and empowerment

    Report: Kenyan millennials and Gen Zs want more media coverage on money and empowerment

    Former Head of Public Service Joseph Kinyua takes over as KCB Group Chairman

    Former Head of Public Service Joseph Kinyua takes over as KCB Group Chairman

    Isuzu East Africa launches special edition D-Max in honor of Eliud Kipchoge

    Isuzu East Africa launches special edition D-Max in honor of Eliud Kipchoge

    KCB Group shareholders to pocket KES 3.2 billion final dividend

    KCB Group shareholders to pocket KES 3.2 billion final dividend

    KCB Group PLC reports KES 9.8 billion profit after tax in Q1 2023

    KCB Group PLC reports KES 9.8 billion profit after tax in Q1 2023

    Kenyan students win global tech prize with hearing app

    Kenyan students win global tech prize with hearing app

    OpenAI leaders call for coordination and safety in superintelligence development

    OpenAI leaders call for coordination and safety in superintelligence development

    Google adds 8 new African countries to its Flood Hub platform

    Google adds 8 new African countries to its Flood Hub platform

    Safaricom to carry out system maintenance for 5 hours on Saturday night

    Safaricom to carry out system maintenance for 5 hours on Saturday night

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    Apple launches 15-inch MacBook Air with M2 Chip

    Apple launches 15-inch MacBook Air with M2 Chip

    Apple unveils 14-inch and 16-inch MacBook Pro with M2 Pro and M2 Max chips

    Apple unveils 14-inch and 16-inch MacBook Pro with M2 Pro and M2 Max chips

    Complete list of Macs that will run macOS Ventura

    Complete list of Macs that will run macOS Ventura

    Apple unleashes new MacBook Pros with powerful chips, more ports and a notch

    Apple unleashes new MacBook Pros with powerful chips, more ports and a notch

    Laptop buying mistakes you should avoid

    Laptop buying mistakes you should avoid

    Lenovo X1 Carbon 5th Generation Review: just good enough

    Lenovo X1 Carbon 5th Generation Review: just good enough

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    Google unveils new Pixel devices with foldable phone and tablet

    Google unveils new Pixel devices with foldable phone and tablet

    Samsung launches affordable Galaxy A-series in Kenya with flexible payment options

    Samsung launches affordable Galaxy A-series in Kenya with flexible payment options

    Xiaomi launches Redmi Note 12 Series in Kenya, starts at KES 21,999

    Xiaomi launches Redmi Note 12 Series in Kenya, starts at KES 21,999

    TECNO announces pre-orders for its first foldable smartphone in Kenya

    TECNO announces pre-orders for its first foldable smartphone in Kenya

    Oppo Reno 8T 5G launched in Kenya for KES 49,999

    Oppo Reno 8T 5G launched in Kenya for KES 49,999

    Samsung’s Galaxy S23 Unpacked event: All you need to know

    Samsung’s Galaxy S23 Unpacked event: All you need to know

    TECNO launches PHANTOM X2 Series with retractable portrait lens in Kenya

    TECNO launches PHANTOM X2 Series with retractable portrait lens in Kenya

    Samsung’s first 2023 Galaxy A series phone comes with 5G, and it’s cheap

    Samsung’s first 2023 Galaxy A series phone comes with 5G, and it’s cheap

    Tecno announces Eliud Kipchoge as brand ambassador for PHANTOM X2 Series

    Tecno announces Eliud Kipchoge as brand ambassador for PHANTOM X2 Series

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    Safaricom, NCBA, and KCB restructure Fuliza – all you need to know

    Safaricom slashes prices of 4G Wi-Fi routers by 40%

    How to apply for the new generation number plates in Kenya

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    How to write prompts for Midjourney, from text to image

    How to write prompts for Midjourney, from text to image

    How to use ChatGPT and get the most out of it

    How to use ChatGPT and get the most out of it

    How to make and upload YouTube Shorts with ease

    How to make and upload YouTube Shorts with ease

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    Samsung’s Freestyle Projector now available to purchase in Kenya

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    WhatsApp introduces Chat Lock feature to protect private conversations

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Home Social Media

Elon Musk finally buys Twitter at $44 billion

Brian Murimi by Brian Murimi
April 25, 2022
in Social Media
Reading Time: 3 mins read
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Elon Musk finally buys Twitter at $44 billion
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Twitter and Elon Musk have reached a deal on buyout after weeks of uncertainties.

Some hours before the announcement was made, Elon tweeted saying that he hoped even his worst critics remained on Twitter.

https://twitter.com/elonmusk/status/1518623997054918657

“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,” said Musk in a statement included with the release. “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 CEO Parag Agrawal also applauded the deal in the release. “Twitter has a purpose and relevance that impacts the entire world,” Agrawal said in an accompanying statement. “Deeply proud of our teams and inspired by the work that has never been more important.”

KEEPREADING

Instagram’s new Twitter competitor app could launch next month

Twitter gets a new CEO as Elon Musk shifts to executive chair and CTO role

Elon Musk made an offer to buy Twitter for $54.20 per share on Thursday, April 14th. His journey, however was not easy since then.

The day after Musk revealed his bid to purchase Twitter, the company’s board of directors responded with a poison pill, effectively saying, “Thanks, but no thanks.”

The poison pill was a new “shareholder’s rights plan” that gave certain shareholders the option to buy more stock if Musk or another buyer tried to take control. This indicated that Twitter’s board of directors intended to oppose Musk’s attempt for exclusive ownership of the firm.

Elon Musk was did not feel threatened though. His purchase of Twitter, according to him, was not to make money. – he’s the richest man in the world anyway. Elon sees Twitter as the “de facto town square” and wants the social media company’s algorithm to be open source. Elon attempted to portray the entire takeover endeavor as a struggle to safeguard free speech.

He declined even when the company reacted by offering him a board position, which would have limited him to owning only 15% of the company. Musk revised his Securities and Exchange Commission filing to state that he will not be a spectator in the company’s operations.

Elon Musk demonstrated his seriousness by announcing that he had secured $46.5 billion in financing for his intended bid for Twitter and was considering launching a hostile takeover.

The world’s richest man said he planned to fund the bid with a mix of debt and cash in filings filed with the Securities and Exchange Commission on Wednesday. Morgan Stanley and a group of other lenders are providing Mr. Musk $13 billion in debt financing and another $12.5 billion in loans against his equity in Tesla, the electric carmaker he founded. He is projected to invest around $21 billion in equity.

What does Elon promise to do after acquiring Twitter?

From his tweets, he hopes to;

  1. Promote free and open speech
  2. Defeat all spam bots or die trying
  3. Authenticate all humans and priority to Twitter Blue users
  4. Have an edit button
  5. No ads?

This is just what he has openly shared, we will see how all this turns out.

Tags: Elon MuskTeslaTwitter
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Brian Murimi

Brian Murimi

Brian is the founding geek at the Netick. A tech enthusiast skilled in journalism, media relations, multi-platform broadcasting, and social media. Write to him via bryanmurimi@gmail.com

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