Social Media

World Richest Man, Elon Musk Offers $44 Billion to Close Twitter Deal

Tesla CEO and the world’s richest man, Elon Musk has offered to buy Twitter at the original price of $44 billion.

Published

1 year ago

October 5, 2022

Investors King

Tesla CEO and the world’s richest man, Elon Musk has offered to buy Twitter at the original price of $44 billion.

Microblog platform Twitter has confirmed that Elon Musk has offered to close his $44 billion deal to buy Twitter Inc. on the terms he originally agreed to.

This is coming two months after the world’s richest man had initially pulled out of the deal. He alleged some inconsistency in the number presented to him.

He alleged that the company lied about the number of bots and spam accounts on its platform.

Investors King learnt that Elon Musk’s deal to buy Twitter Inc. has been on a wild ride during the past six months.

On the 4th of April, Elon Musk disclosed a 9 percent stake in Twitter. Ten days after, he made a bid to buy Twitter at a share price of $54.20. He threaten to sell his stake in Twitter if the company rebuffed his offer.

On the 21st of April, Elon Musk disclosed that he had lined up a $46.5 billion package to finance his bid for Twitter.

In May, Musk tweeted that the deal was “temporarily on hold” because of concerns he had about fake accounts on the platform, prompting Twitter’s shares to fall 10 percent.

He further stated that he would not move on with the deal until Twitter was clearer about how many of its accounts were fake.

On the 8th of July, he officially aim to terminate the deal, alleging that Twitter did not provide significant information about the fake accounts.

In reaction to the termination, Twitter sued Elon Musk and tried to force him to honour the term of the agreement.

However, his recent decision to go ahead with the deal will be a big win for the social media platform.

Already Twitter’s share price has spiked by more than 20 percent after the news. A check by our correspondent shows that Twitter’s share price is trading above $50 as of the time of this report.

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Social Media

Elon Musk Envisions X as the Future of Your Financial Life

Published

1 month ago

October 27, 2023

Samed Olukoya

Tech visionary Elon Musk unveiled his vision for X, aiming to transform it into the epicenter of people’s financial worlds by the end of 2024.

Musk’s plan transcends mere payment solutions, targeting nothing short of the complete financial ecosystem, including money and securities. “You won’t need a bank account,” he affirmed.

X, led by CEO Linda Yaccarino, sees this as an ambitious opportunity that could reshape the financial landscape as we know it.

Musk expressed his unwavering commitment to the cause, stating, “It would blow my mind if we don’t have that rolled out by the end of next year.”

This ambition traces back to Musk’s dot-com-era online bank, X.com, which later evolved into PayPal. Musk aims to take a page from his earlier playbook, hoping to outshine PayPal with a more comprehensive approach.

The platform’s offerings are set to include high-yield money market accounts, debit cards, checks, and loan services. Musk’s endgame? An ecosystem that empowers users to send money worldwide instantly and in real-time.

However, this transformation is not without its challenges. Elon Musk must convince users of the necessity of such an all-encompassing platform while gaining their trust with their financial lives.

The vision of X as an “everything app” resonates with the rise of super apps like WeChat in China, which provide users with access to a myriad of services, from shopping to transportation.

As X positions itself to revolutionize the financial industry, Musk’s audacious endeavor promises to change the way we handle money, potentially eliminating the need for traditional banking as we know it.

The world watches with bated breath to see if Musk’s bold vision will become a reality.

Social Media

WhatsApp Introduces Dual Account Feature, Enabling Users to Sign Into Two Accounts

Published

2 months ago

October 19, 2023

Temitayo Olukoya

WhatsApp has introduced a groundbreaking innovation that promises to redefine the user experience.

This new feature allows individuals to simultaneously manage two WhatsApp accounts on a single device, eliminating the need for dual phones.

The eagerly anticipated announcement was made by Mark Zuckerberg, Facebook’s CEO, who assured Android users that this feature will soon grace their screens.

Gone are the days of juggling multiple WhatsApp accounts, a task that often required carrying two separate devices. While tech giants like Xiaomi and Oppo had previously introduced app cloning features for multiple WhatsApp instances, WhatsApp’s integrated approach sets a new standard for seamlessness.

This innovation is poised to be a game-changer for users who navigate both personal and professional realms on this ubiquitous messaging platform.

Cumbersome login-and-logout routines and the perpetual concern of messaging from the wrong account will soon be a thing of the past, replaced by a newfound ease of multitasking.

Activating this feature is a straightforward process. Users need only navigate to the ‘Settings’ menu and select ‘Add Account.’ During setup, a second phone with a SIM card or a device supporting eSIM technology is required to unlock the full potential of multi-SIM functionality.

WhatsApp ensures that each account can have its own customized notification and privacy settings, preserving data integrity and personalization.

In addition to the dual account feature, WhatsApp recently introduced passkey support for Android, enhancing security by providing an alternative to SMS-based two-factor authentication.

This latest advancement underscores WhatsApp’s dedication to user convenience, connectivity, and digital identity security, setting the stage for a more organized and efficient way of communication.

Social Media

X Takes on Bots: New Zealand and Philippines Users Pay $1 Subscription

Published

2 months ago

October 19, 2023

Temitayo Olukoya

X, formerly known as Twitter, has embarked on a bold initiative to combat the growing menace of bots and spammers on its platform.

The company, now owned by Elon Musk, recently rolled out a new subscription plan in New Zealand and the Philippines, requiring new users to pay a mere US$1 per year for access to essential functions like tweeting, replying, retweeting, and liking.

The move, dubbed ‘Not A Bot,’ is designed to fortify X’s ongoing efforts to curb spam, manipulation, and bot activity. New users in these countries must first verify their phone numbers and then pay the nominal fee to post, like, reply, repost, quote posts, and bookmark.

Those who opt out of subscribing will be restricted to “read-only” actions, such as reading posts, watching videos, and following accounts.

Elon Musk, who has been at the helm of X, explained the rationale behind this strategy. Bots, he noted, are inexpensive to set up, costing only a fraction of a penny.

By imposing a nominal fee, X aims to deter bot operators and make it more challenging for them to create multiple accounts.

This move is a part of Musk’s broader vision for transforming X into an all-encompassing app, including payment services.

Musk has been exploring alternative revenue sources as ad revenue declined by 60% due to advertiser boycotts and concerns over content management.

As the ‘Not A Bot’ program unfolds, it holds the potential to revolutionize the fight against bots and spammers, making social media a safer and more authentic space for users. X is eager to assess the program’s effectiveness and may consider expanding it to all users in the future.