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This day last year, Musk offered to buy Twitter. Timeline of what happened next
Elon Musk has initiated sweeping reforms in Twitter after acquiring it for $44 billion last October.
Elon Musk is the owner of Twitter, and leaves no stone unturned to flaunt that he owns it. Ever since he bought the social media platform for a whopping $44 billion last October, the billionaire has made sweeping changes within the company. He has initiated several measures including paid subscription service called ‘Twitter Blue’ to boost revenue of the company.
Musk has also increased the tweet limit to 10,000 with bold and italicised text, fulfilling what he had promised earlier. Several events have unfolded in Twitter since Musk gave the offer to buy Twitter exactly a year ago. Here's a brief timeline.
March 14, 2022: Musk begins investing in Twitter in late January. By March 14, he owns 9.2 per cent stake in the social media platform.
April 14, 2022: The billionaire offers to buy Twitter at $54.20, as the valuation reaches $43 billion as per the Securities and Exchange Commission.
April 21, 2022: In SEC filing, Musk says he has received $46.5 billion in financing to complete the acquisition.
April 25, 2022: The social media platform accepts Musk's offer and announces the deal valuation at $44 billion.
May 13, 2022: Musk says that the Twitter deal is ‘temporarily on hold’. He cites the prevalence of bots and spam accounts on the microblogging platform.
May 26, 2022: Twitter shareholders bring class-action lawsuit against Musk over alleged stock manipulation tied to the acquisition process.
June 6, 2022: Musk threatens to withdraw from the deal if the social media giant does not disclose information about bots and spams on the platform.
July 8, 2022: Musk moves to terminate his deal on issue of fake accounts.
July 12, 2022: Twitter sues Musk in Delaware court to force him to complete the deal.
July 19, 2022: Delaware court says that trial in lawsuit by Twitter against Musk should take place in October.
August 23, 2022: Former Twitter head of security Peiter Zatko alleges that the platform has glaring information security system lapses.
October 4, 2022: Musk proposes to complete the Twitter buyout deal at his original offer of $54.20 per share.
October 28, 2022: Musk closes the deal to acquire the social media platform on the final day before the Delaware court would move forward.
November 4, 2022: Twitter initiates mass layoffs to trim roughly half of its 7,500-person workforce.
November 9, 2022: Twitter launches Blue subscription service, asking users to pay $8 if they want the verified badge.
November 16, 2022: Musk in an email to employees asks them to accept long hours of work or leave.
March 24, 2023: Twitter says legacy verified badges will end on April 1.
April 12: Musk says final date for removal of legacy verified badges is April 20.
