Tech mogul Elon Musk has finally reached an agreement to buy Twitter. He will acquire the microblogging platform for USD 44 billion.
Reacting to the development, Twitter CEO Parag Agrawal said that the platform has a purpose and relevance that impacts the entire world.
"Deeply proud of our teams and inspired by the work that has never been more important. I know this is a significant change and you're likely processing what this means for you and Twitter's future," the Indian-origin technology executive tweeted. Agrawal was appointed as the CEO of Twitter in November last year.
According to Reuters, Agrawal while addressing Twitter employees in a town hall on what this takeover means to them and allay their fears, "Once the deal closes, we don't know which direction the platform will go."
The Twitter buyout casts doubts on the future of Agrawal and it is still unclear whether he would like to remain at the helm, with Musk now being at the very top of the platform.
Musk has already said he doesn't have faith in the management of Twitter.
The decision to sell the platform to the Tesla CEO also signals that the board is somehow not reportedly convinced in Agrawal's capabilities, who took over from Jack Dorsey in November 2021, as the company is not making enough profits.
Musk has reiterated that the micro-blogging platform needs to be made private to grow and promote "free speech".
Agrawal had earlier said the Tesla CEO had decided "not to join our board which I believe is for the best".
Musk said that "free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated".
With IANS Inputs
READ MORE: Elon Musk buys Twitter; says he wants to 'privatise' platform
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