![]() ![]() In a regulatory filing, Elon Musk confirmed that on October 3, his advisors sent a letter to Twitter on his behalf, notifying Twitter that he intends to proceed to closing of the transaction contemplated by the April 25 merger agreement, on the terms and subject to the conditions set forth therein. Musk is scheduled to be deposed on Thursday in Texas, and "that's the pressure point," a source told the news agency. Twitter's legal team and lawyers for Musk updated the judge who is overseeing the litigation on Tuesday to try to overcome mutual distrust and find a process for closing the deal, Tom Hals of Reuters reported. "Keep an eye on the docket," said one source to Reuters. #Estimate financialtimes ios app snap facebook trialAs for now, the judge says a trial in the proceeding is still set for October 17 as she has not yet received any filing to halt the case, according to Bloomberg. 17 and potentially finalize the deal within days, the report said. Should the parties agree on a plan, they can avert the trial set to begin Oct. A potential plan would likely stipulate that the deal closing not be contingent on Musk obtaining the necessary financing, as his initial proposal included Monday, the source said. WHY CAN'T WE BE FRIENDS?: Twitter (TWTR) and Tesla's (TSLA) Elon Musk are continuing talks about closing his deal to buy the microblogging service operator and hope to have an agreement possibly as soon as later today, a person familiar with the matter told The Wall Street Journal's Cara Lombardo. Have any thoughts on this? Let us know down below in the comments or carry the discussion over to our Twitter or Facebook.Welcome to "#SocialStocks," The Fly's weekly recap of Wall Street's reactions to social media stock news. The company has seen its own advertising branch nearly triple its market share. ![]() Meanwhile, as companies look to adapt and advertisers pump money into other avenues like TikTok, Apple is riding high. ![]() One adtech consultant, Eric Seufert, told FT that Facebook alone might have been hit with a loss of over $8 billion in revenue in the third and fourth quarters. It’s also possible some of these stats are conservative estimates. Some of that comes from how and where users use the platforms but also is partly due to how these companies target users to begin with. YouTube and Twitter faired better but were still affected by these changes implemented by Apple. Facebook ( Meta) was also hit extremely hard, but some of that is due to it just being so much larger than something like Snapchat. Snap, for example, is built mobile-first, so revenue is based almost entirely on smartphone use. Now, we’re starting to see the real cost associated with this change.Īccording to a new report from Financial Times and from data provided by Lotame, an advertising technology company, Snap, Facebook, Twitter, and YouTube lost nearly $10 billion in advertising revenue combined due to Apple’s policy change in the third and fourth quarter of 2021. Essentially, this gave users more control over how apps used (and had access to) their data. When Apple released iOS 14.5, one feature that was included was App Tracking Transparency. ![]()
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