Elon Musk Bought Twitter – The Best Marketing Move
Hello Folks, I hope all of you know Elon Musk. He is also the world’s richest person with 26,540 crores USD. He is also a founder of SpaceX, The Boring Company, Tesla, and many more multi-Billion companies. All of us know that Elon Musk is doing his work in innovation, engineering, and technology. He is more involved in making innovations and taking humankind to next level. And to be very frank he is doing good with this.
Recently all of us heard that Elon Musk bought Twitter. A common question raised in everyone’s mind is why Elon Musk bought Twitter? But will turn out to be the best marketing move for Elon Musk. We will explain this further. This deal was the headlines since January 2022. We would like to reveal the drama behind buying a social media Company – Twitter.
- January 2022 – Elon Musk started increasing his stocks in the social media company – Twitter.
- March 2022 – Musk increased his stocks up to 5%
- 4th April 2022 – Musk’s stake increases by over 9%, making him the largest individual stakeholder on Twitter
- 5th April 2022 – Twitter CEO Parag Agarwal announced that Musk will be on the board committee of Twitter
- 11th April 2022 – Agarwal informs employees that Musk has rejected twitters offer to join the board committee of twitter.
- 12th April 2022 – A group of Twitter investors sued Elon Musk for not disclosing buying a significant stake to the securities and exchanges commission.
- 14th April 2022 – Elon Musk offered to buy Twitter for $43 Billion. i.e $54.20 per share.
- 15th April 2022 – Twitter board adopts ‘Poison Pill’, A defense strategy to prevent a hostile takeover.
- 21st April 2022 – Elon Musk details his financing plan to acquire Twitter.
- 25th April 2022 – Twitter board accepts Elon Musk’s offer to buy the social media company in a $44 billion deal and take it private.
Why did Elon Musk Bought Twitter?
Twitter is a comparatively small social media company than Facebook, YouTube, and Others. Still, Musk has given his best to buy Twitter. In October 2021 Elon Musk become the world’s richest man by overtaking Jeff Bezos. But how?
The reason behind this is the Stock Market Price of his company Tesla. Tesla is a relatively small Automobile company compared to giant players in the market. But the stock prices of this company went on boom in October 2021. Which made Musk the richest person in the world.
You must be confused that what is the relationship between Tesla and Twitter?
Let us tell you some facts:
Tesla is a very expensive company to run. It’s not like a social media company – Twitter, where you can rent some cloud space and write some codes. You must have to build big plants and infrastructure to build cars. And, historically, Tesla has required plenty of funds to run itself, and Tesla has been able to sell millions of dollars of stock to new shareholders, to some extent bypassing the way Wall Street usually works. Elon Musk’s public persona (Twitter) has helped him raise money to build a big company like Tesla that does real things, and has also kept the valuation of that company high because people like it and like him. People also believe in his vision for the future because he is an attainable character via Twitter to them in a way that a lot of other C.E.O.s are not.
All of us know that Twitter is quite stringent when it comes to policy violations. Twitter has blocked many celebrity’s accounts by giving the reasons for policy violations. No matter where the celebrity comes from!!! Recently Twitter has permanently suspended Donald trumps account.
Elon Musk has more than 91 million followers on Twitter. And he uses Twitter very frequently to market his company’s products. Elon musk knows the power of social media marketing.
A recent survey tells that cost of client acquisition of Tesla is 80% less than other automobile competitors in the USA. That’s the power of social media marketing. The fact is only you need to know how to make social media marketing strategies.
And it’s for sure Elon Musk doesn’t want to get suspended account on Twitter. It will be a huge loss for his public persona and his companies also. Because Musk’s every twit matters for his company’s growth. He surely didn’t want to miss that much of the audience.
So buying Twitter for $44 Billion is a smart marketing move by Elon Musk to market his all companies in a way that he wants. Because he is the whole and sole owner of Twitter.
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