A few weeks after Elon Musk secured a $44 Billion deal to acquire Twitter, he now plans to make the company available for public trade in as soon as 3 years, as per a new WSJ report. The report states a possible timeframe of 3 years as per internal discussions, by which Musk is planning a blockbuster IPO for the microblogging platform.
Despite being the world’s richest in terms of wealth, it hasn’t been the simplest of tasks for Elon Musk to arrange the money required for the deal. Several sources closes to the matter have confirmed that he has been working hard at bring in private-equity firms 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, who takeover companies with high potential, facing problems within the organisation, and try to clean up the mess before taking it back to the public trading domain.
Not much is known about how Musk plans to achieve just that, but he did reveal his intentions to monetize high engagement content on the app and also charging a small fees to corporate and government accounts. The general direction towards which the platform is supposed to be headed is loosening of censorship and a more free-speech friendly atmosphere, along with several commercially-focused feature upgrades.
Critics have been on Musk’s tail throughout his freedom of speech campaign, pointing out their concerns of the platform becoming more centralised and adopting a tunnel vision suitable to Mr. Musk’s own opinions.