Twitter CEO expects Musk deal to close but ‘prepared for all scenarios’
San Francisco: Amid the high voltage drama happening ever since Elon Musk’s $44 billion acquisition deal announcement at micro-blogging site Twitter, CEO Parag Agrawal has now said that he expects the deal to close, but “we need to be prepared for all scenarios”. The statement by the CEO comes hours after Musk, in a series […]
San Francisco: Amid the high voltage drama happening ever since Elon Musk’s $44 billion acquisition deal announcement at micro-blogging site Twitter, CEO Parag Agrawal has now said that he expects the deal to close, but “we need to be prepared for all scenarios”.
The statement by the CEO comes hours after Musk, in a series of tweets, wrote that the Twitter buyout is temporarily on hold, where he also later mentioned that he was “still committed to the acquisition”.
“While I expect the deal to close, we need to be prepared for all scenarios and always do what’s right for Twitter. I am accountable for leading and operating Twitter, and our job is to build a stronger Twitter every day,” Agrawal wrote on the platform.
He also mentioned that the team at Twitter is improving the platform as a product and business for its users without knowing the company’s future ownership.
“No one at Twitter is working just to keep the lights on. We take pride in our work. Regardless of the company’s future ownership, we are here improving Twitter as a product and business for customers, partners, shareholders, and all of you,” he said.
Recently, Agrawal fired consumer product leader Kayvon Beykpour and head of revenue product Bruce Falck.
In a memo sent to employees, be said there is a hiring freeze now and Twitter will also pause spending in most areas.
“Next week, will be holding a virtual offsite with our Global Leadership Team (GLT) to drive further cohesion and focus, and strengthen our collective plans to best support all of you,” Agrawal who may also be asked to go once Musk takes over, had said.
