The Twitter Inc (NASDAQ:TWTR) buyout is becoming an increasingly probably idea. At first, the social media giant anticipated being bought out quickly. However, large companies such as Microsoft Corporation (NASDAQ:MSFT), SalesForce.com, Inc. (NYSE:CRM), as well as Walt Disney Co (NYSE:DIS) have declined to take part in the acquisition.
As reported by Bloomberg, a partial reason to Disney walking out of the acquisition deal is due to the negative aspects of the social media platform. This includes the common hate speech and abuse that is found throughout the platform.
When Disney decided to not proceed with the Twitter buyout, the entertainment giant informed Bloomberg in a statement “The abuse and hate speech that is apparent on Twitter, will not be in good cohesion with the family-based services we provide.”
Further reasons why Twitter Buyout is not receiving the traction originally expected
This is a large aspect of the reason that Disney walked away. However, there are other reasons, most of which are also the reasons other large organizations left the deal standing. A critical reason for companies walking away is due to the size of the deal, as well as the current future financial prospects of the social media platform.
It was also revealed by analysts that the social media giant has taken measures to try to diminish the negative aspects of their platform. They have undergone a sweep of the platform, which succeeded in uprooting over 360,000 ISIL-related accounts.However, despite this, there is still a high rise in white nationalists, as well as cyber-abuse on the platform.
The reason behind Twitter abuse
Critics have stated that the main reason why this is possible on Twitter when compared to other social media platforms, is due to the absence of real world obligations. Essentially, there is nothing that connects an account to the person responsible for the account in real life.
Due to this, there is no fear of consequences, when sharing things that are politic-sensitive. Through not having these measures in place, Twitter is a platform that experiences the highest rates of anti-Semitic and Islamophobia tweets.
The failure of large organizations following through with the Twitter buyout deal is proof of the level of negative aspects that is currently present on the social media platform.
Twitter stocks closed on Monday at $16.83 after making a turn-around of $0.10 or 0.60 %