Twitter scrapped its plan to officially unveil its expanded office space in Singapore, following a $44 billion buyout by Elon Musk. Twitter was gearing up for an impending event to inaugurate its expanded office space in Singapore. Interestingly, the company reversed its decision to open an office in its Asia-Pacific hub. This change of heart comes after the 50-year-old business magnate proposed to buy the social media platform for $44 billion. The now-scrapped event would have seen the opening of a 22,000 square foot expansion to the CapitaGreen tower office space.
Notably, the event was slated to take place on Thursday, April 28. However, Twitter dropped the idea of hosting the event on Wednesday, April 27. Twitter did not explain why it decided not to go ahead with its planned event. Nevertheless, the company said it will divulge more details about its collaboration with the Government for various initiatives. Aside from this, Twitter will be shedding more light on these initiatives which revolve around tech talent, digital literacy, and online safety.
Twitter Cancels Its Plan To Host An Event At Singapore HQ
With Musk taking over Twitter, a lot of people are worried about the company’s future. Many professionals have been considering whether the Tesla CEO will suspend the social media platform’s ad revenue. Aside from this, Musk’s buyout of Twitter could have a wide range of implications on politics, as well as the media landscape, as per a report by The Straits Times. Notably, Musk promises to make Twitter a protector of free speech. However, critics point out that he has a poor track record in terms of maintaining these values when they are not in line with his business interests.
His takeover has also prompted worries about former US President Donald Trump returning to the platform. Aside from this, experts have raised concerns over Musk’s progressive conservative leanings. Also, Twitter’s future links to China are unclear, considering that Tesla makes significant revenue in the country. To recall, the social media platform has had a rocky relationship with China. According to some analysts, Musk is likely to introduce notable changes to the platform’s business model. In fact, he is likely to reappoint Jack Dorsey as Twitter’s CEO.
The company’s existing chief executive, Parag Agrawal claims that he isn’t sure about the direction Twitter will head in after Musk takes over. Agrawal further noted that the company is not planning for layoffs at the moment. In the meantime, Twitter is prepping to invest further in its Singapore engineering center. The company launched it in February 2020. At the time, the company said its plans to hire 65 people. Also, Twitter plans to double the number of engineers to over 100 by 2023.