News Summary for July 2022
Posted: Tue Jan 21, 2025 4:55 am
While Twitter is in a feud with Elon Musk, Instagram and Snapchat are trying to find new ways to congratulate their loyal customers, TikTok is trying to escape the bad rumors.
Twitter-Musk deal to be decided in court
Microblogging platform Twitter has sued its would-be buyer, Elon Musk , in a US court in an attempt to force the controversial billionaire to complete the $44 billion deal.
The Tesla founder and CEO made waves earlier this year when he aggressively sought control of Twitter with a buyout offer for the company at $54.20 a share, 38% above Twitter's stock price at the time.
But relations since the deal were struck quickly soured as Musk accused the platform of failing to provide accurate information on the number of fake accounts - or bots - operating on Twitter, an argument he later used to justify cancelling the deal.
Twitter, meanwhile, says Musk's repeated negative public comments about Twitter have hurt its business and pushed down its stock price. It has accused Musk of having buyer's remorse amid a market crash that has wiped out $100 billion of his personal wealth.
Arguments in the case, which is before the Delaware Court of Chancery, began this week, with Twitter seeking to have the case heard as early as September and Musk arguing for a delay until February.
The Delaware Court of Chancery is one of the oldest in the U.S., and is recognized as the country’s preeminent forum for resolving corporate disputes. It has the power to force Musk to complete the Twitter deal if australia accountant email database it decides he acted in bad faith, or to force him to pay Twitter a $1 billion termination fee , as agreed in the merger agreement.
Instagram launches subscriber chats
After beginning to test creator subscriptions earlier this year, Instagram last week announced the introduction of a Messenger-powered subscriber chats feature.
The new feature allows creators to open limited 24-hour chats with up to 30 followers directly from the inbox or story. Subscribers can join the chats from a “join chat” sticker in the story, similar to the subscription sticker launched earlier this year.
To date, Instagram has expanded access to subscriptions to creators across the United States, with the feature designed to help creators build closer connections with the community and make it easier for them to generate regular income.
The platform is also introducing exclusive content such as posts and reels, and adding a dedicated tab on the profile for subscription content.
Twitter-Musk deal to be decided in court
Microblogging platform Twitter has sued its would-be buyer, Elon Musk , in a US court in an attempt to force the controversial billionaire to complete the $44 billion deal.
The Tesla founder and CEO made waves earlier this year when he aggressively sought control of Twitter with a buyout offer for the company at $54.20 a share, 38% above Twitter's stock price at the time.
But relations since the deal were struck quickly soured as Musk accused the platform of failing to provide accurate information on the number of fake accounts - or bots - operating on Twitter, an argument he later used to justify cancelling the deal.
Twitter, meanwhile, says Musk's repeated negative public comments about Twitter have hurt its business and pushed down its stock price. It has accused Musk of having buyer's remorse amid a market crash that has wiped out $100 billion of his personal wealth.
Arguments in the case, which is before the Delaware Court of Chancery, began this week, with Twitter seeking to have the case heard as early as September and Musk arguing for a delay until February.
The Delaware Court of Chancery is one of the oldest in the U.S., and is recognized as the country’s preeminent forum for resolving corporate disputes. It has the power to force Musk to complete the Twitter deal if australia accountant email database it decides he acted in bad faith, or to force him to pay Twitter a $1 billion termination fee , as agreed in the merger agreement.
Instagram launches subscriber chats
After beginning to test creator subscriptions earlier this year, Instagram last week announced the introduction of a Messenger-powered subscriber chats feature.
The new feature allows creators to open limited 24-hour chats with up to 30 followers directly from the inbox or story. Subscribers can join the chats from a “join chat” sticker in the story, similar to the subscription sticker launched earlier this year.
To date, Instagram has expanded access to subscriptions to creators across the United States, with the feature designed to help creators build closer connections with the community and make it easier for them to generate regular income.
The platform is also introducing exclusive content such as posts and reels, and adding a dedicated tab on the profile for subscription content.