Twitter, Inc. has now officially merged with a company known as “X Corp.” and no longer exists as its own business entity, according to federal filings that were reported by Forbes. A filing dated April 4, 2023 in a federal court located in California shows that “Twitter, Inc. has been merged into X Corp. and no longer exists.” This is pretty big tech industry news, ladies and gentlemen. Musk is once again on the move. What are his plans for Twitter? Will it continue to exist as we know it today, or will it become a totally different kind of social media platform? Only time will tell.
The filing also says that X Corp.’s parent company is “X Holdings Corp.”
“X Corp. is a privately held corporation. Its parent corporation is X Holdings Corp. No publicly traded corporation owns 10% or more of the stock of X Corp. or X Holdings Corp.,” the document says, according to TheBlaze.
“Twitter CEO Elon Musk had previously spoken about creating a ‘super app’ similar to China’s WeChat, which Forbes describes as an app that “provides audio and video calls and one-to-one text messages, plus the ability to create group threads containing up to 500 people,” the report continued.
“There’s no WeChat equivalent out of China,” Musk stated during his first townhall meeting as Twitter CEO back in 2022. “There’s a real opportunity to create that.”
One of the features of this new kind of super app would be the ability for users to transfer cash “effortlessly with one click,” earning interest on the wire transfers they make.
Musk believes that this transformation into a “super app,” is would could lead to X Corp. becoming a company worth a whopping $250 billion. That’s a healthy chunk of change, right?
“Twitter reportedly lost $270 million in the second quarter of 2022, the last quarter that the company was required to publicly report its earnings. Since Musk took the company private, such transparency is no longer required,” TheBlaze said. “Musk has alluded to X Corp. multiple times, such as in October 2022 when he said on Twitter that ‘Buying Twitter is an accelerant to creating X, the everything app.'”
Buying Twitter is an accelerant to creating X, the everything app
— Elon Musk (@elonmusk) October 4, 2022
Another tweet simply said, “X.”
Just several days before the merger between Twitter and X Corp., Musk took part in several students, which, hilariously, included one where he changed his name to, “Harry Bolz.” The “o” has kind of an “a” sound. Do you get it? Come on, you have to get it. And yes, it’s true. I have the sense of humor of a 13-year-old middle school boy. Guess I just never grew up.
Anyway, he also painted over the “W” on the Twitter headquarters sign and changed the logo on the social media platform to that of a cartoon dog.
One thing is for sure when it comes to Elon Musk. He most definitely marches to the beat of his very own, personalized percussionist. At the end of the day though, Musk is an innovator. He’s always thinking ahead, especially about technology. There’s little doubt that if he develops a super app, it’s going to be massive and change the way we do social media.
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