Twitter Inc TWTR said that according to an internal review conducted by the company, false or spam accounts during the first quarter of 2022 represented fewer than 5% of its monetizable daily active users (mDAUs).
What Happened: The social media platform said in the Monday filing with the U.S. Securities and Exchange Commission (SEC) that it had made improvements in its spam detection capabilities, which has led to the suspension “of a large number of spam, malicious automation, and fake accounts.”
Twitter said it intends to continue making such improvements.
See Also: How To Buy Twitter (TWTR) Shares
Why It Matters: Twitter said it had 229 million mDAUs, which is a year-over-year increase of 15.9%.
“After we determine an account is spam, malicious automation, or fake, we stop counting it in our mDAU, or other related metrics,” said Twitter on Monday.
Tesla Inc TSLA CEO Elon Musk is all set to take Twitter private in a $44 billion deal.
Last month, Musk tweeted that if the bid led by him succeeded, “we will defeat the spam bots or die trying!”
Recently, billionaire Mark Cuban suggested using Dogecoin DOGE/USD to tackle Twitter spam. Musk liked the idea of the Dallas Mavericks owner.
Price Action: On Monday, Twitter shares closed 0.3% higher at $49.18 in the regular session and rose 0.1% in extended trading. On the same day, Tesla shares closed 3.7% higher at $902.94 in regular trading and rose 0.45% in the after-hours session, according to data from Benzinga Pro.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.