Twitter’s new owner Elon Musk on Tuesday announced that people will have to pay USD 8 per month for the verified blue tick on the microblogging site.
Twitter’s current lords & peasants system for who has or doesn’t have a blue checkmark is bullshit.Power to the people! Blue for $8/month.
— Elon Musk (@elonmusk) November 1, 2022
Musk also said that the price will be adjusted by country proportionate to purchasing power parity. He added that verified Twitter users will also get priority in replies, mentions & searches, which is essential to defeat spam/scam. They will also be able to post long video and audio and will see half as many ads.
And paywall bypass for publishers willing to work with us— Elon Musk (@elonmusk) November 1, 2022
Listing the perks, Musk said there will be a paywall bypass for publishers willing to work with Twitter. He added that the new measures will also give Twitter a revenue stream to reward content creators.
This will also give Twitter a revenue stream to reward content creators— Elon Musk (@elonmusk) November 1, 2022
The billionaire had earlier defended the price increase by saying, “We need to pay bills somehow, referring to the business model at Twitter and his plans to increase its revenue.”
Last week, Musk’s takeover of the social media company for $44 billion concluded a months-long saga. He has dissolved Twitter’s board of directors after his takeover of the company, according to a US Securities and Exchange Commission (SEC) filing on Monday. Musk, according to the filing, became “the sole director of Twitter”, reports CNN.
It confirms that instead of joining Twitter’s board of directors, Elon Musk is now their sole replacement. “On October 27, 2022, and as a result of the consummation of the Merger, Musk became the sole director of Twitter,” read the filing.
“In accordance with the terms of the Merger Agreement, effective as of the effective time of the Merger, the following persons, who were directors of Twitter prior to the effective time of the Merger, are no longer directors of Twitter: Bret Taylor, Parag Agrawal, Omid Kordestani, David Rosenblatt, Martha Lane Fox, Patrick Pichette, Egon Durban, Fei-Fei Li, and Mimi Alemayehou,” according to the SEC filing.
The company filing said that all previous members of Twitter’s board, including recently ousted CEO Agrawal and Chairman Taylor, are no longer directors “in accordance with the terms of the merger agreement.”
Musk took over as Twitter boss and his first job was to reportedly fire Indian-origin CEO Agrawal, Chief Financial Officer Ned Segal, the company’s policy chief Vijaya Gadde and others.
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