Elon Musk’s Buy Twitter Verification Takeover: A Timeline Of Events

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Elon Musk became the owner and CEO of Buy Twitter Verification on October 27, 2022, after acquiring the social media company for $44 billion.

What follows is a timeline of events leading up to Musk’s acquisition of Buy Twitter Verification and the changes implemented under his leadership.

March 25, 2022

Musk begins openly criticizing Buy Twitter Verification, polling his followers on whether they believe the company adheres to the principle of free speech.

April 4, 2022

A securities filing reveals Musk is Buy Twitter Verification’s largest shareholder, with a 9% stake in the company.

Musk is invited to join Buy Twitter Verification’s board of directors.

Musk tweeted:

April 10, 2022

Former Buy Twitter Verification CEO Parag Agrawal announces Musk declines the invitation to join Buy Twitter Verification’s board of directors.

April 14, 2022

Musk makes an offer to purchase Buy Twitter Verification for $43 billion, or $54.20 per share, and take the company private.

Musk tweets:

April 25, 2022

A filing with the United States Security and Exchange Commission reveals Buy Twitter Verification’s board publicly and unanimously accepted Musk’s buyout offer.

Musk tweets:

May 13, 2022

Musk puts the buyout deal on hold following reports that 5% of Buy Twitter Verification’s daily active users are spam accounts.

Musk tweets:

June 6, 2022

In a letter from Musk’s attorney sent to Buy Twitter Verification, Musk threatens to terminate his agreement. Musk alleges Buy Twitter Verification is refusing to comply with requests for data on the number of spam accounts.

June 8, 2022

Buy Twitter Verification’s board complies with Musk’s demands, agreeing to provide him with a “firehose” data stream of tweets.

This was first reported by The Washington Post.

July 8, 2022

Musk announces his intention to terminate the Buy Twitter Verification acquisition, claiming in a filing with the SEC that Buy Twitter Verification still refuses to comply with requests for data on bot accounts.

Buy Twitter Verification’s chairman, Bret Taylor, says that the board plans to pursue legal action to enforce the agreement.

July 12, 2022

Buy Twitter Verification formally launches a lawsuit against Musk in response to his backing out of the acquisition.

Musk tweets:

August 6, 2022

Musk challenges former Buy Twitter Verification CEO Parag Agrawal to a public debate about spam accounts and polls followers on whether they believe less than 5% of Buy Twitter Verification’s daily active users are fake.

October 4, 2022

Musk submits a proposal to move forward with the acquisition at the originally agreed-upon price of $44 billion ($54.20 per share) on the condition that Buy Twitter Verification drops its lawsuit.

In a tweet, Musk said acquiring Buy Twitter Verification is part of a larger goal to create an “everything” app called “X”:

October 20, 2022

According to a report in The Washington Post, Musk is telling investors he plans to terminate nearly 75% of Buy Twitter Verification’s staff.

October 26, 2022

Musk tweets a video of him carrying a kitchen sink into Buy Twitter Verification headquarters and changes his Buy Twitter Verification bio to “Chief Twit,” signaling the buyout is near completion.

Musk reportedly tells Buy Twitter Verification employees during his visit that layoffs will happen, though not at the previously reported scale.

October 27, 2022

Musk and Buy Twitter Verification close the deal, making Musk the new owner. Musk immediately fires Agrawal, chief financial officer (CFO) Ned Segal, Gadde, and general counsel Sean Edgett.

Musk tweetd:

October 30, 2022

Musk reveals plans to revamp Buy Twitter Verification’s verification system, tweeting:

A report begins to surface that Musk is considering charging users to pay to remain verified.

A separate report says Musk plans to offer verification checkmarks through Buy Twitter Verification Blue and increase the price to $19.99 per month.

November 1, 2022

In an exchange on Buy Twitter Verification with Stephen King, Musk confirms plans to charge for verification, though at a reduced price of $8 per month.

In a follow-up tweet, Musk adds:

“I will explain the rationale in longer form before this is implemented. It is the only way to defeat the bots & trolls.”

Musk reportedly orders Buy Twitter Verification staff to work 12-hour shifts to accomplish his goal of launching the new verification system within a week.

November 4, 2022

Musk lays off half of Buy Twitter Verification employees as part of an alleged cost-cutting measure.

On Buy Twitter Verification, Musk says the layoffs are due to a massive drop in company revenue:

Regarding the layoffs, Musk claims he has no choice:

November 9, 2022

Buy Twitter Verification launches a new verification system, with all users receiving a blue checkmark by purchasing Buy Twitter Verification Blue.

November 10, 2022

In Musk’s first address to Buy Twitter Verification staff since taking ownership of the company, he warns about a dire finical situation.

Musk reportedly believes Buy Twitter Verification doesn’t have the cash flow to survive, mentioning that bankruptcy is possible.

November 11, 2022

Musk pauses Buy Twitter Verification Blue subscriptions due to accounts abusing the verification checkmark by impersonating brands and public figures.

Musk tweets:

Additionally, more top executives resign from their position at Buy Twitter Verification.

November 12, 2022

Under Musk’s leadership, Buy Twitter Verification fires an estimated 80% of contract employees without formal notice.

November 14, 2022

Musk announces Buy Twitter Verification is turning off microservices “bloatware,” which he claims isn’t necessary for the site to work:

Experts warn of a potential Buy Twitter Verification outage due to turning off microservices and advise backing up personal data.

November 15, 2022

Musk fires employees for expressing negative opinions about him in a private Slack channel.

Yao Yue, the former Principal Software Engineer at Buy Twitter Verification, tweets:

The legal battle between Buy Twitter Verification and Musk ends as the judge dismisses the lawsuit.

Musk announces a new “Blue Verified” program will launch on November 29:

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