Jack Dorsey plans an alternative social media platform as Elon Musk takes over Twitter: Report

After a six-month-long rollercoaster ride, two lawsuits and a number of personal text messages being made public, Elon Musk has officially acquired Twitter. Following the completion of this $44 billion deal, the Tesla CEO has fired CEO Parag Agrawal, CFO Ned Segal and general counsel Vijaya Gadde.

The SpaceX CEO, who updated his Twitter profile bio to ‘Chief Twit’ took to the micro-blogging platform and wrote, “the bird is free”. Starting from Musk’s move to acquire 9.2 per cent stake in the company to finally buying the whole platform, here’s a look at the timeline of the $44 billion-worth deal.

On January 31, 2022, Elon Musk began buying shares of Twitter in near-daily installments-amassing 5 per cent stake in the company by mid-March.

In March, Musk questioned Twitter’s policy towards free speech and spreading propaganda. He even suggested that creating a new social media platform would be ‘given a serious thought’.

Following the 51-year-old billionaire’s tweet about creating a new social media platform, Twitterati asked the business magnate to buy it. . Later on April 2, Twitter came out with a public statement that Musk has picked up a 9.2 per cent share in the company.

On April 5, then Twitter CEO Parag Agrawal announced that the SpaceX chief was appointed to the company’s board. However, in a major u-turn, later that week, Agrawal announced that Musk will not be joining the social media firm’s board.

Later on April 14, the Tesla boss made an official offer to buy Twitter, at $52.20 per share amounting to $44 billion. He also filed the offer with the SEC and tweeted the copy of the official offer.

Once the Twitter buyout deal was accepted by the shareholders, the technocrat on May 13, questioned the micro-blogging platform and its legitimacy with the user base numbers. Citing that 5 per cent of Twitter users are bots, he even threatened to pull out of the deal if the platform didn’t answer his questions.

On July 12, Twitter sued the Tesla boss and asked him to complete the deal. In response, Musk countersued stating that Twitter was withholding information pertinent to the deal.