Twitter agrees to provide 'complete data' on fake accounts to Elon Musk: Report

Nearly two months after SpaceX CEO Elon Musk offered a whopping deal of $44 billion to acquire Twitter after a lot of speculations and uncertainties, multiple media reports suggest that the microblogging giant has finally agreed to provide him with full data of fake accounts. According to a report by Washington Post, Twitter has agreed to share its full information on spam "bots accounts"-- automated accounts that typically promote scams and misinformation. Though lawyers involved in the deal would not confirm the data sharing agreement, multiple news reports claimed that Musk will not be provided full access to data.

According to the lawyers for the Tesla and SpaceX CEO, their client has repeatedly asked for the information on fake users since May 9 and added the microblogging major has failed to furnish the information to Musk. As per Twitter, it has around 229 million accounts, of which, around 5% are fake or bots. But Musk has disputed that 20% or more are bogus, without contending any evidence. On several occasions, Musk was vocal about the fake accounts on Twitter, but several tech pundits claimed it was just an attempt to reach the final deal at a much lesser amount or even to walk away entirely.

Earlier on Monday, the microblogging site issued a statement on Musk's claims that reads, “Twitter has and will continue to cooperatively share information with Mr Musk to consummate the transaction in accordance with the terms of the merger agreement. We believe this agreement is in the best interest of all shareholders. We intend to close the transaction and enforce the merger agreement at the agreed price and terms."

What is a bogus or fake account and why has it been problematic for years?

The problem of fake accounts is well-known to Twitter and its investors. These accounts are usually created to amplify messages and spread disinformation. Since the onset of the social media giant, it has been problematic for both Twitter and the advertisers. Advertisers rely on the number of users provided by social media platforms to determine where they will spend money. If the client pays for the advertisement, he looks for genuine users on the platform in order to accomplish the motive of promoting products or services on the social media giant. On the other hand, if the accounts are not genuine or fake, it may be possible that the advertiser achieves its goal in terms of ad viewership but it would not reflect in the sale of the product. 

Image: AP/Shutterstock/LinkedIn/ParagAgrawal