By Aaron Miller-
Newyork based firm Elliott Management Corp. has invested in a large stake in Twitter Inc. and plans to push for changes at the social media company, and is planning to replace Chief Executive Officer Jack Dorsey.
The plans have not been officially finalised, but reliable sources confirmed to The Eye Of Media.Com through contacts from Bloomberg that plans to transform the image and efficiency of twitter have been discussed with serious numbers thrown in the mix. The many challenges twitter has faced recently and in the past was an influential factor in the radical move to make significant changes in twitter.
Allegations of serious abuse of its platform has been amongst the several complaints and efforts for a more sophisticate management designed to make it more enjoyable for its global users. Elliott Management is an estimated $40 billion hedge fund run by the billionaire Paul E. Singer, and has amassed a significant stake in recent months worth around the billion dollar mark. It nominated four candidates for Twitter’s board ahead of a deadline last Sunday to name potential directors
INITIATIVES
Twitter has introduced a number of modifications and initiatives since the several complaints of abuse on its platform. Provisions that enable users to hide abusive comments have been made, but with the one loophole that allows twitter users to block comments that promote necessary debate according to the principles of free speech.
The sudden arrival of Elliott on the scene has been considered by some observers in the knowledge of these plans to be timed in advance of the 202 U.S elections given the history of online trolls that spread disinformation. It is a bid to better regulate twitter and make its platform safe for the world.
An insider who insisted on anonymity told The Eye Of Media.Com:
” There are big plans to revolutionise twitter and an announcement will be made soon. Eliott prides itself on creativity, and tenacity and is also a leader in event-driven situations to create value or manage risk” Twitter generated more than $1 billion in revenue, a first for the company.
It earned $885 million during the quarter Newyork based firm Elliott Management Corp. has invested in a large stake in Twitter Inc. and plans to push for changes at the social media company, and is planning to replace Chief Executive Officer Jack Dorsey. The plans have not been officially finalised.
Reliable sources said that plans to transform the image and efficiency of twitter have been discussed with serious numbers thrown in the mix. The many challenges twitter has faced recently was an influential factor in the radical move to make significant changes in twitter through a takeover achieved through a mutually beneficially business deal between Elliott Management and twitter.
Allegations of serious abuse of its platform has been amongst the several complaints and efforts for a more sophisticate management designed to make it more enjoyable for its global users. Elliott Management is an estimated $40 billion hedge fund run by the billionaire Paul E. Singer, and has amassed a significant stake in recent months worth around the billion dollar mark. It nominated four candidates for Twitter’s board ahead of a deadline last Sunday to name potential directors
INITIATIVES
Twitter has introduced a number of modifications and initiatives since the several complaints of abuse on its platform. Provisions that enable users to hide abusive comments have been made, but with the one loophole that allows twitter users to block comments that promote necessary debate according to the principles of free speech.
The sudden arrival of Elliott on the scene has been considered by some observers in the knowledge of these plans to be timed in advance of the 202 U.S elections given the history of online trolls that spread disinformation. It is a bid to better regulate twitter and make its platform safe for the world.
An insider who insisted on anonymity said:” There are big plans to revolutionise twitter and an announcement will be made soon. Elliott prides itself on creativity, and tenacity and is also a leader in event-driven situations to create value or manage risk” Twitter generated over $1 billion in revenue, breaking records as it became a globally demanded platform.