Twitter admits it overstated user figures between 2019 and 2021

The admission comes as the company finalizes its sale to Elon Musk


Twitter overstated user numbers by two million between 2019 and 2021, according to the social media giant’s latest financial report.

The company introduced a feature in March 2019 allowing for multiple accounts to be linked together so users could easily switch between their accounts.

But the company admits people with multiple accounts were counted as separate users, inflating its figures.

The admission comes as billionaire Elon Musk is acquiring the company for $54.20 USD a share (about $69 CAD). The entire transaction is valued at roughly $44 billion USD (about $56 billion CAD).

According to the Globe and Mail, two Canadian banks are also helping to finance the purchase.

Musk is borrowing $25 billion in loans from 12 banks. RBC has pledged $750 million USD (about $955 million CAD) and CIBC put up $400 million USD (roughly $500 million CAD).

Source: Twitter Via: Engadget