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Twitter Merges with X Corp Stripping off its Title as a Company
Published Apr 11, 2023 04:26AM ET
© 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”:
Buying Twitter is an accelerant to creating X, the everything app— Elon Musk (@elonmusk) October 4, 2022
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.
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