Twitter accepting Musk's deal as is says a lot about where it is today: Analyst
Twitter Inc. locked down changes to its social networking platform through Friday after accepting a US$44 billion bid from billionaire Elon Musk, making it harder for employees to make unauthorized changes, according to people familiar with the matter.
For now, Twitter won’t allow product updates unless they’re business-critical, said the people, who asked not to be identified because the situation is private. The company accepted a US$54.20-a-share bid from Musk after a whirlwind courtship that began with the Tesla Inc. magnate disclosing a 9 per cent stake in Twitter earlier this month.
Product changes will require approval from a vice president, the people said. Twitter imposed the temporary ban to keep employees who may be miffed about the deal from “going rogue,” according to one of the people.
The move underscores Twitter’s bumpy road ahead as it transitions from a publicly held company to a private one owned by the controversial billionaire. Many of the company’s employees have been agitated about the idea of Musk taking charge and what changes may come.
Musk, 50, is a prolific tweeter and has shared many ideas for the platform, including everything from adding an edit button to turning Twitter’s San Francisco headquarters into a homeless shelter.
Twitter has previously instituted freezes to its code ahead of key events, such as the Super Bowl, to ensure continuity on the platform and prevent mistakes appearing.