Twitter merges with X Corp to create X the Everything app
- The latest court filing discloses that Twitter has been merged with X Corp.
- Musk recently changed the Twitter logo to Dogecoin.
Elon Musk’s Twitter Inc is reportedly no more in existence as the latest court filing shows that it has merged with X Corp. It can be recalled that three companies were registered by Musk namely X Holdings I, II, and III. This was used to acquire Twitter for $44 billion in a deal completed in October last year. In an ongoing court case between the social media company and political activist Laura Loomer, a corporate disclosure statement filed with the U.S. District Court in the Northern District of California, San Francisco Division by the Twitter lawyers states that the company “had been merged into X Corp. and no longer existed.”
Twitter is now X Corp
A court filing at the U.S. District Court in the Southern District of Florida, Miami Division also discloses the social media company is now under X Corp and instead of Delaware, it is based in Nevada.
The Wikipedia page of the social media giant also reads:
X Corp. (formerly Twitter, Inc.) is an American social media company incorporated in Nevada. The company operated the social networking service Twitter. Twitter, Inc previously operated the Vine short video app and Periscope live-streaming service.
Musk has always sought to turn the social media platform to “Everything app” to look similar to WeChat in China. He plans to make it an all-in-one solution including payment platform. Fiat currencies is said to be the first on the list with Dogecoin expected to join soon. Following his Twitter acquisition, Musk tweeted that “buying Twitter is an accelerant to creating X the everything app”.
What is “X the Everything app?”
X the Everything app is simply social media, PayPal, and several other things put together with an interesting interface. In 1999, Musk co-founded an online bank called X.com. Later, he merged it with another company to form PayPal. In 2017, Musk repurchased the domain name X.com from PayPal. Later, he established three holding companies to pursue his Twitter bid. In May 2022, Musk said on the all-in podcast that the US needs a super app. According to him, it is either Twitter is converted to that or a new one is started from scratch.
If you’re in China, you kind of live on WeChat. It does everything. It’s sort of like Twitter, plus PayPal, plus a whole bunch of things all rolled into one, with a great interface. It’s really an excellent app, and we don’t have anything like that outside of China.
In his explanation of this proposed super app, Musk stated that it should be like a digital Town square where users can leave comments and post videos. Later, payments, either fiat or crypto can be integrated after trust is built among the public.
Speaking of China, the Twitter owner said:
You basically live on WeChat. because it’s so usable and helpful to daily life, and I think if we can achieve that, or even get close to that at Twitter, it would be an immense success.
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Recently, Musk changed the Twitter logo to Dogecoin, triggering speculations that the meme coin could be the native currency of X the Everything app.
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