📖 Your Q2 Earnings Guide: Discover the Stocks ProPicks AI Highlights to Jump Post-EarningsRead more

Twitter Merges with X Corp Stripping off its Title as a Company

Published 04/11/2023, 04:26 AM
Updated 04/11/2023, 04:30 AM
© Reuters Twitter Merges with X Corp Stripping off its Title as a Company

  • Twitter.Inc merged with the technology solution organization X Corp Solutions.
  • The merge with X Corp stripped the title of Twitter as a company.
  • Twitter CEO Elon Musk has been trying to turn Twitter into an everything app.

According to the latest reports, Twitter.Inc has merged with the management and technology solution organization X Corp Solutions, taking off the social media platform’s title as a company.

Earlier last week, during the hearing of the lawsuit of the political activist Laura Loomer, the Twitter defendants revealed in a court filing that “Twitter, Inc. has been merged into X Corp. and no longer exists”. In detail, the activist has accused Twitter of violating federal laws by banning her account in 2019.

Previously, Twitter owner Elon Musk registered three holding companies called X Holding I, II, and III to attain the ownership of the social media platform for $44 billion. In October, the deal was completed, making Musk the CEO of the platform.

In addition, recently, according to the report, it was declared that Twitter after unifying with X Corp. isn’t based in Delaware, but rather, in Nevada. Nevada Secretary of State announced that Musk registered the two new businesses in the state on March 9 and later on March 15, he applied for the unification of his existing companies.

On October 4 of last year, Musk shared a Twitter post, commenting “Buying Twitter is an accelerant to creating X, the everything app”:

Notably, Musk has been trying to make the X Corp, “The Everything App”, from being a mere social media company. He has earlier stated while explaining the key agenda of merging Twitter with X Corp that he aspires to transfer Twitter into an all-in-one solution including a payment platform.

Significantly, Musk’s Twitter post is evident enough to estimate that he was planning to turn the platform into an “everything app”, like China’s WeChat. He has given hints about the development of the platform by introducing payment facilities and changing the Twitter logo into Dogecoin.

The post Twitter Merges with X Corp Stripping off its Title as a Company appeared first on Coin Edition.

See original on CoinEdition

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.