A few weeks after Elon Musk secured a A $ 44 billion deal to acquire Twitter, he now plans to make the company available to the public after 3 years, according to a new WSJ report. The report points to a possible time frame of 3 years, according to internal discussions, through which Musk is planning an IPO for a blockbuster for the microblogging platform.
Although he is the richest man in the world in terms of wealth, for Elon Musk it was not the easiest task to arrange the money needed for the deal. Several sources close to the issue confirmed that he was working hard to attract private equity companies to ease the burden. According to a WSJ report, one of these companies is Apollo Global Management Inc.
Elon’s intentions point to the classic practice of private equity firms, which swallow high-potential companies facing problems within the organization and try to clear up the mess before returning it to public trading.
Not much is known about how Musk plans to achieve just that, but he has revealed his intentions provide revenue from highly engaged content in the app as well as charging small fees for corporate and government accounts. The general direction that the platform is supposed to focus on is to loosen censorship and a more favorable atmosphere for free speech, along with several upgrades to business-focused features.
Critics have been in Musk’s line throughout his freedom of speech campaign, voicing fears that the platform is becoming more centralized and adopting a tunnel vision appropriate to Mr Musk’s own opinion.