Twitter founder, Jack Dorsey, has explained why the multibillion dollar microblogging app board decided to sell it to Elon Musk, who on Monday night reached an agreement to buy the app for approximately $44 billion.
Musk acquired the company at $54.20 a share, the same price named in his initial offer on April 14.
Clarifying on why the microblogging app was sold to Musk, Dorsey said Musk was the only solution to achieving the purpose of Twitter being run for the public good.
According to him, he trusted Elon’s goal of creating a platform that is “maximally trusted and broadly inclusive”.
He tweeted: “I love Twitter. Twitter is the closest thing we have to global consciousness. The idea and service is all that matters to me, and I will do whatever it takes to protect both. Twitter as a company has always been my sole issue and my biggest regret. It has been owned by Wall Street and the ad model. Taking it back from Wall Street is the correct first step.
“In principle, I don’t believe anyone should own or run Twitter. It wants to be a public good at a protocol level, not a company. Solving the problem of it being a company, however, Elon is the singular solution I trust. I trust his mission to extend the light of consciousness.
“Elon’s goal of creating a platform that is “maximally trusted and broadly inclusive” is the right one. This is also @paraga’s goal, and why I chose him.
“Thank you both for getting the company out of an impossible situation. This is the right path…I believe it with all my heart”, Dorsey added.
He assured that Twitter would continue to serve the public conversation.
