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Elon Musk shares why he offered to buy Twitter again, calls it an 'accelerant to creating...'

In his first public statement about the decision, Tesla CEO Elon Musk said that the Twitter deal will provide a boost to the creation of ‘’X, the everything app.” In August, Musk had cryptically teased X in response to a tweet asking what his plans were if his deal to purchase Twitter doesn’t go through.

ET Now Digital

Updated Oct 5, 2022, 07:46 IST

New Delhi: Over two months after backing out of the $44 billion Twitter deal, the world’s richest person and Tesla CEO Elon Musk has once again proposed to buy Twitter at $54.20 per share. While he cited the number of spam/bot accounts on Twitter as the reason to cancel the deal, Musk on Tuesday weighed in on why he is proposing to buy Twitter now.

In his first public statement about the decision, the Tesla boss said that the Twitter deal will provide a boost to the creation of ‘’X, the everything app.” “Buying Twitter is an accelerant to creating X, the everything app," the billionaire tweeted Tuesday.

Twitter probably accelerates X by 3 to 5 years, but I could be wrong, Musk added in another tweet.

What is X?

Well, this isn’t the first time that the billionaire has spoken about X. He has previously indicated that X.com is a social-media company that he might create if the Twitter deal falls through. In August this year, the Tesla CEO had cryptically teased X in response to a tweet asking what his plans were if his deal to purchase Twitter doesn’t go through.

X could be a super app - combination of messaging, social media, payments-and lack of reliance on ad revenue.

Musk bought X.com in 2017 from PayPal, of which he is a former CEO, according to Yahoo Finance. The billionaire had actually co-founded the website 23 years ago in 1999 as an online bank. Saying that the domain had “great sentimental value”, Musk purchased X.com back.

Musk offers to buy Twitter again

The Tesla boss has once again proposed to acquire the social media company. The latest development comes after a message exchange between Twitter CEO Parag Agrawal and Musk was made public. Apparently, Musk lost interest in the deal after the conversation in which Agrawal asked the former to not tweet negative things about the company.

Agrawal told Musk that he is free to tweet "is Twitter dying?" or anything else about Twitter "but it's my responsibility to tell you that it's not helping me make Twitter better in the current context".

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