Elon Musk said he wants Twitter Inc to be “the most respected advertising platform” in a bid to gain ad buyers' trust ahead of his $44 billion deal for the social media firm.
Musk once tweeted that “I hate advertising” and now wants something different.
"There has been much speculation about why I bought Twitter and what I think about advertising. Most of it has been wrong," Musk said in a tweet on Thursday.
"Fundamentally, Twitter aspires to be the most respected advertising platform in the world that strengthens your brand and grows your enterprise."
Musk also replied "absolutely" to a tweet asking for Twitter's top content producers to receive payment on par with other social media sites.
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More than 90% of Twitter's revenue in the second quarter came from ad sales, and Reuters reported earlier this week that the firm was having trouble retaining its most active users, who are essential to the operation.
The difficulty Musk faces is shown by the fact that on Wednesday he visited Twitter's San Francisco headquarters and hinted at leading the organisation by changing the title of his profile to "Chief Twit."
In his tweets on Thursday, Musk also said he wanted Twitter to be "a common digital town square, where a wide range of beliefs can be debated in a healthy manner, without resorting to violence".
The so-called "free speech absolutist" declared in May that he would lift Twitter's prohibition on former American officials. After the U.S. was stormed, President Donald Trump was banned from the microblogging site in January of last year due to the possibility of further inciting violence. Capitol.
Even though Trump himself has declared he won't return, the issue of Trump's reinstatement on the social media platform has been viewed as a yardstick for how far Musk will go in changing things.
The conclusion of the Twitter contract would put an end to a six-month-long saga. The trading of the company's shares will be halted on Friday, according to the website of the New York Stock Exchange.
In three to five years after purchasing Twitter Inc., Musk intends to re-list Twitter Inc.'s new holding company on the stock market, according to people familiar with the situation who spoke to Bloomberg News on Thursday.
A request for comment from Reuters did not receive a response right away from Twitter.
Parag Agrawal is one of the executives expected to leave as soon as the $44 billion deal gets completed. Also leaving are Vijaya Gadde, the head of legal, policy and trust; Chief Financial Officer Ned Segal, who joined Twitter in 2017; and Sean Edgett, who has been general counsel at Twitter since 2012.
