Twitter is dead. Long live Twitter.
Yes, Twitter Inc is no more. The company that owns the Twitter social media platform has been merged with Elon Musk’s X.com company, X Corp.
The merger has been revealed in court documents tendered as part of legal action taken against the app.
As per the filing: “Twitter Inc. has been merged into X Corp. and no longer exists. X Corp. is a privately held corporation, incorporated in Nevada, and with its principal place of business in San Francisco, California.”
This is no doubt part of Musk’s bigger plan to create an “everything app”, the details of which are mysterious, perhaps even to Musk himself, but in a tweet in October of last year he confirmed it is still his ultimate goal, saying “Buying Twitter is an accelerant to creating X, the everything app”.
According to Social Media Today: “Musk, with his background in digital payments, and the connectivity of Twitter, is hoping to integrate payment functionality into tweets, making it easy to transfer funds, free of charge, around the world.”
As Musk outlined to the Morgan Stanley Tech Conference last month: “So, let’s say you want to be able to send money easily from one account on Twitter to another account effortlessly, with one click, you want to be able to earn interest on that money, you want to be able to have debt, so you can let your interest can go negative. Basically, I think it’s possible to become the biggest financial institution in the world, just by providing people with convenient payment options.”
