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Your lawyers are causing trouble, Musk warns Parag Agrawal

Recently, Musk’s lawyers have said that Twitter officials are unfairly pushing for a “warp speed” trial….reports Asian Lite News

Tech billionaire Elon Musk has reportedly texted microblogging platform Twitter’s CEO Parag Agarwal Ned Segal before pulling out of the $44 billion acquisition deal.

Musk texted the Twitter executives that the company’s lawyers were trying to “cause trouble” after they requested information about the status of Musk’s financing for a deal to buy Twitter, according to a lawsuit filed in Delaware, reports Business Insider.

“Your lawyers are using these conversations to cause trouble. That needs to stop, “Musk was quoted as saying in a text to CEO Parag Agrawal and CFO Ned Segal on June 28.”

Recently, Musk’s lawyers have said that Twitter officials are unfairly pushing for a “warp speed” trial.

Twitter’s legal team said in the Delaware Court of Chancery that they would need just a four-day trial to prove that Musk was wrong on his decision to cancel the deal.

Twitter requested the court that the trial be expedited with a start date as soon as September. However, Musk’s legal team replied that it will need time till early 2023 to start the trial.

Musk has also recently demonstrated his “disparaging” behaviour towards Twitter by posting a ‘pile of poop’ emoji as the micro-blogging platform sued him over terminating the takeover deal.

As Twitter sued Musk, the company also submitted an earlier poop emoji reply by the Tesla CEO to Twitter CEO Parag Agrawal as evidence of his “disparaging” behaviour toward the platform.

When a follower posted a link about Twitter submitting a poop emoji tweet as evidence of his disparaging behaviour, Musk replied with the same emoji, along with “BS (bullshit)” as text.

In May, Musk attacked Agrawal after the Twitter CEO went into finer details on how the micro-blogging platform is fighting spam and fake accounts, asking the US Securities and Exchange Commission (SEC) to probe whether Twitter’s claim on the number of its user base is true.

The Tesla CEO even posted an emoji depicting a “pile of poop” to Agrawal on his Twitter thread that went viral on social media.

ALSO READ: Musk hits out at Trump

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Twitter revenue reaches $1.57 billion under new CEO

For 2021, Twitter registered over $5 billion in annual revenue, up 37 per cent for the year…reports Asian Lite News

Twitter, under new CEO Parag Agrawal, posted robust quarter results on Thursday, as revenue reached $1.57 billion (with ad revenue of $1.41 billion) — both up 22 per cent (on-year) — driven by ongoing revenue product improvements, solid sales execution and a continued increase in advertiser demand.

The micro-blogging platform reported 217 million average mDAU (monetisable daily active users), up 13 per cent, driven by product improvements, as well as global conversation around current events.

“Our strong 2021 performance positions us to improve execution and deliver on our 2023 goals. We are more focused and better organised to deliver improved personalisation and selection for our audience, partners, and advertisers,” said Agrawal who took over from Jack Dorsey in November.

For 2021, Twitter registered over $5 billion in annual revenue, up 37 per cent for the year.

“There are no changes to our goals of 315 million average mDAU in Q4 2023 and $7.5 billion or more revenue in 2023. Our increased focus on performance ads and the SMB opportunity after the sale of MoPub positions us even better for 2022 and beyond,” said CFO Ned Segal.

The company also announced a new $4 billion share repurchase authorisation, of which half ($2 billion) will be executed through an accelerated share repurchase programme (ASR).

The US revenue was $885 per cent, an increase of 21 per cent for Q4 while international revenue was $683 million, an increase of 23 per cent.

“Japan, our second largest market, reported revenue of $194 million, up 10 per cent,” said Twitter.

Nearly 280 million accounts now follow at least one Topic, with more than 14.5K Topics available across 11 languages on Twitter.

ALSO READ-Twitter’s new feature allows to post long messages