Twitter no longer exists as a company

Elon Musk merges firm with X Corp, signalling move towards his vision of an ‘everything app’

Anthony Cuthbertson
Thursday 13 April 2023 06:24 BST
Elon Musk buys Twitter for $44bn

Twitter no longer exists as a company after Elon Musk merged it with another entity called X Corp.

The move means the app now forms part of Mr Musk’s X Holdings Corp., which has been touted as the future parent company for all of his companies, which include Neuralink, SpaceX, Tesla and The Boring Company.

It also potentially signals the next phase of Mr Musk’s plan to turn Twitter into an “everything app”.

The merger only became public after lawyers for the social media firm were forced to disclose it in an ongoing lawsuit involving failed congressional candidate Laura Loomer.

“Twitter, Inc. has been merged into X Corp. and no longer exists,” the court filing stated.

“X Corp. is a privately held corporation. Its parent corporation is X Holdings Corp. No publicly traded corporation owns 10 per cent or more of the stock of X Corp. or X Holdings Corp.”

Twitter could not be reached for comment, with the company’s press email set to auto respond to requests with the poo emoji.

Mr Musk appeared to confirm the change in a tweet on Tuesday, which stated simply: “X.”

The billionaire already owns the domain, having founded a company of the same name in 1999, which went on to become PayPal.

In October 2022, when his Twitter takeover deal was still being finalised, Mr Musk tweeted: “Buying Twitter is an accelerant to creating X, the everything app.

“Twitter probably accelerates X by three to five years, but I could be wrong.”

Industry experts have questioned whether Mr Musk can succeed in transforming Twitter into a platform where users can access all basic online services, from making a payment to ordering a taxi.

China’s WeChat offers similar functionality, though attempts to do the same in the West have so far failed.

“Super apps, as they are known in the industry, are not a new thing. They’ve been hugely successful in Asia, but have not really caught on elsewhere,” social media expert and industry commentator Matt Navarra said at the time.

“Could Twitter form part of a super app that lets you buy goods, chat to friends, get news updates, book a taxi etc? Sure. Can Elon Musk make it work? Possibly. Will Elon actually do it? Who knows.”

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