Elon Musk announced on Friday that he will pull out of a $44 billion (€43.2 billion) bid to buy Twitter, saying "numerous provisions" of the deal were violated. The world's richest man wrote in a filing that the company had failed to provide information about fake or spam accounts on the platform.
Twitter chairman Bret Taylor tweeted that the board is "committed to closing the transaction on the price and terms agreed upon with Musk and plans to pursue legal action to enforce the agreement."
Musk has previously threatened to pull out of the deal if Twitter can't show that less than 5% of its daily active users are automated spam accounts. Twitter, meanwhile, said it removes 1 million spam accounts every day, and that these accounts make up far less than 5% of its active user base each quarter.
Fake social media accounts have been a problem for years. Advertisers rely on the number of users provided by social networking platforms to determine where to spend money.
To calculate how many accounts are spam, Twitter said it reviews "thousands of accounts" using public and private data such as IP addresses, phone numbers, geographic location and account activity when active, to determine whether an account It's true.
