{"id":1244586,"date":"2023-04-13T09:30:23","date_gmt":"2023-04-13T04:00:23","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1244586"},"modified":"2023-04-13T09:30:57","modified_gmt":"2023-04-13T04:00:57","slug":"twitter-inc-no-longer-exists-elon-musk-merges-twitter-with-x-corp-to-create-a-mega-application-for-all-services","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/twitter-inc-no-longer-exists-elon-musk-merges-twitter-with-x-corp-to-create-a-mega-application-for-all-services\/","title":{"rendered":"Twitter Inc No Longer Exists! Elon Musk Merges Twitter With X Corp To Create A Mega Application For All Services"},"content":{"rendered":"\n

Twitter as we know it is no longer an independent company thanks to a merger with a newly formed shell firm called X Corp.<\/p>\n\n\n\n

Context<\/strong><\/p>\n\n\n\n

\"Twitter<\/figure>\n\n\n\n

X Holdings Inc. is reported to be Musk’s super-conglomerate, joining Tesla, SpaceX Neuralink, The Boring Company, and Twitter.<\/p>\n\n\n\n

In a court filing on Tuesday, April 4, Twitter revealed \u201cno longer exists\u201d after being merged with X Corp according to a document submitted the same day in a California court. <\/p>\n\n\n\n

The company is currently being sued by right-wing provocateur Laura Loomer, who accused it of violating federal racketeering laws when it banned her account in 2019.<\/p>\n\n\n\n

Twitter, as a defendant, must continue to submit corporate disclosure statements to the court and so, in its latest filing it provided notice that \u201cTwitter, Inc. has been merged into X Corp. and no longer exists.\u201d<\/p>\n\n\n\n

When asked for comment, Twitter responded with a poop <\/a>emoji, as is its recent custom.<\/p>\n\n\n\n

Why X in particular?<\/strong><\/p>\n\n\n\n

Musk has long been attached to the letter X.<\/p>\n\n\n\n

In 1999, he founded X.com which would later become PayPal.<\/p>\n\n\n\n

Other business ventures also carried names with the letter, SpaceX, Tesla\u2019s Model X car, the three X Holdings corporations, and \u201cProject X,\u201d the official SEC-recognized name for the Twitter purchase\u2019s $13 billion bank loan.<\/p>\n\n\n\n

However, there is no clear picture as to what this change means for Twitter, which has seen a sweeping overhaul since Musk bought the company for $44 billion last year.<\/p>\n\n\n\n

While the social media platform will (hopefully) continue to exist <\/a>and is currently functional, its parent company is no longer Twitter Inc.<\/p>\n\n\n\n

Vision of an \u2018Everything app\u2019<\/strong><\/p>\n\n\n\n

Musk had earlier mentioned that buying Twitter would be an ‘accelerant’ for creating X \u2014 which he dubbed an ‘everything app’.<\/p>\n\n\n\n

“Twitter probably accelerates X by 3 to 5 years, but I could be incorrect<\/a>,” he wrote in October 2022.<\/p>\n\n\n\n

He has earlier expressed his desire to make X similar to China\u2019s WeChat that boasts a billion users.<\/p>\n\n\n\n

The super-app owned by Tencent Holdings Ltd. is used for everything from payments and booking event tickets to messaging.<\/p>\n\n\n\n

Musk’s vision of a super app would go beyond <\/a>social media functionality – allowing users to order food, book cabs, and pretty much do everything else an app can do in 2023.<\/p>\n\n\n\n

Several hurdles ahead<\/strong><\/p>\n\n\n\n

Regardless of whatever path Musk chooses going forward, the future looks to be tricky to navigate.<\/p>\n\n\n\n

The US Congress will keep a close eye over an American version of WeChat along with regulatory agencies like the Federal Trade Commission which has been taking a firmer stance against tech monopolies.<\/p>\n\n\n\n

Investors might also be spooked if Musk tries to stuff each of his separate companies into X Holdings Corporation<\/p>\n","protected":false},"excerpt":{"rendered":"

Twitter as we know it is no longer an independent company thanks to a merger with a newly formed shell firm called X Corp. Context X Holdings Inc. is reported to be Musk’s super-conglomerate, joining Tesla, SpaceX Neuralink, The Boring Company, and Twitter. In a court filing on Tuesday, April 4, Twitter revealed \u201cno longer […]<\/p>\n","protected":false},"author":24,"featured_media":1244607,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[240,113],"class_list":["post-1244586","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-elon-musk","tag-twitter"],"acf":[],"yoast_head":"\nTwitter Inc No Longer Exists! 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