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Twitter just got Reeled

In the quickest and largest buyout in the history of the social media industry, there were elements that many would have not even imagined in the wildest of their dreams.

The board of Twitter yesterday reconsidered Elon Musk's offers and approved the same. In the first review itself, they should have forwarded it to shareholders to vote on it as they only hold 0.73% of the shareholding.

The funding of the buyout has already been secured as Elon puts it himself. The value of the transaction is $46.5Bn at $54/share, it is being funded by $21Bn of his funds, and the rest is split between a buyout loan and margin loan against Tesla shares.

Interesting were the feeds that came after the deal got confirmed. First Donald Trump said that he would not return to the platform even if he got reinstated. And then Jack Dorsey the founder himself, said that he thinks Elon is the only true saviour of the platform.

Many people would be skeptical of such a buyout but going private is the best and only way a social media platform with such a higher user base and engagement can be true to its sense.

Though the view of the recently appointed CEO is different as he communicated to his employees that it would be a "dark" future under the new owner. And firing him within the first twelve months of his appointment would cost $42 million.

Whatever the future holds for the platform is going to be a unique one as the two most unlikely matches are going to start dating. Whether it will be a blessing or brutal will be narrated with time but for sure it will have a global audience watching it in real-time and commenting.


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