Elon Musk becoming Twitter’s biggest shareholder with a 9.2% stake (worth £2.2bn) in the social platform.
Elon Musk is a regular user of Twitter, tweeting to his 80+ million followers. In a recent Tweet, Musk said he is giving “serious thought” to creating a new social media platform after asking his followers whether they thought Twitter encourages free speech. Musk said, “free speech is essential to a functioning democracy”.
The news sent Twitter shares soaring by more than 27% in New York trading on Monday with Musk owning more than four times the 2.2% holding of Twitter founder, Jack Dorsey.
News:
- Donald Trump’s new social app ‘Truth Social’ was branded a ‘disaster’ following a rapid decline in daily downloads by 95% and 1.5 million users on the waiting list.
- Instagram adds new messaging features including quick sharing, music previews, and new chat themes. Also, see who’s free to chat now with the status icon.
Start-up:
- Liteboxer offers at-home gamified workouts. The subscription-based service comes with a modified boxing device that’s programmed with music. Liteboxer also has a metaverse workout on Meta Quest 2.
Insights:
- To bring more interactivity, Twitter launches 3 new ad products including 3D Product Explorer, Interactive Text, and Collection Ads Display.
- Verizon and Live Nation Entertainment are teaming up to create a presale program. Verizon will outfit concert venues (US) with 5G Ultra Wideband.
- Oracle’s 2022 Survey results showed how marketers plan to replace lost third-party cookies including social profiles, purchase history and app usage.
- Meta ads takes number one spot in SKAdNetwork Index ranking in AppsFlyer’s Latest Performance Index.
