Twitter CEO expects Musk deal to shut however is getting ready for different situations



Parag Agrawal named Twitter CEO on Nov twenty ninth, 2021.Courtesy: TwitterTwitter CEO Parag Agrawal stated Friday that he nonetheless expects the sale to Elon Musk to undergo, however he is persevering with to run the corporate in case it would not.”Whereas I count on the deal to shut, we have to be ready for all situations and at all times do what’s proper for Twitter,” Agarwal stated in a tweet. “I am accountable for main and working Twitter, and our job is to construct a stronger Twitter day by day.”Musk tweeted earlier on Friday that the deal is on maintain till he finds out extra particulars on what number of pretend accounts, like spam bots, are on the platform. The inventory sank virtually 10%, including to a latest plunge within the firm’s worth. It is now price about $13 billion lower than Musk’s agreed upon bid final month of round $44 billion.However Musk might not have the ability to simply stroll away. He’d be on the hook for a $1 billion breakup payment and will face a breach of contract lawsuit that may price him billions extra, CNBC reported earlier.Agarwal’s feedback via a collection of tweets come a day after the corporate stated it was freezing hiring, rescinding presents and slicing prices. Two executives additionally left the corporate, together with head of shopper Kayvon Beykpour, who stated Agarwal requested him to go away.”Folks have additionally requested: why handle prices now vs after shut?” Agarwal wrote. “Our trade is in a really difficult macro setting – proper now. I will not use the deal as an excuse to keep away from making essential choices for the well being of the corporate, nor will any chief at Twitter.”Agrawal added that he’ll attempt to carry extra transparency to the work Twitter is doing to enhance public conversations on the platform.Subscribe to CNBC on YouTube. WATCH: Elon Musk says he is ‘nonetheless dedicated’ to Twitter deal

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