Twitter boss Elon Musk claimed he would transform Twitter into an all-inclusive app, a town square he called it, which would allow users to make payments, consume news and make food orders.
It seems the chief twit has implemented more plans for the platform right after securing Twitter ownership for a whopping $44 billion acquisition last year.
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In October the CEO said Twitter would be an accelerant to creating X, the everything app.
It seems the name Twitter has seized following a merger with Musk’s shell company X Corp.
This was revealed on April 4 in court documents, while the company is being sued by right-wing provocateur Laura Loomer who accuses the platform of violating federal racketeering laws when it banned her account in 2019.
In recent corporate disclosure documents submitted to the California Court, Twitter which is the defendant provided notice that Twitter Inc has been merged with X Corp and no longer exists.
X Corp is now the successor in interest to Twitter Inc which means X Corp is now the defendant in Loomer’s law suit, with its parent company identified as X Holdings Corp.
While many believe Musk’s X Corp may be an accelerant for Twitter, his tweet on Tuesday with a single X signals a brewing shift for the blue birded app, which recently had a doge as its logo.
— Elon Musk (@elonmusk) April 11, 2023
Musk is rumored to want a WeChat like super app owned by Tencent Holdings which can allow users to make payments, bookings and even send messages.
We know that Musk owns the domain X.com, a payment company he started which later merged with PayPal.
X Corp was set up on March 9 with its merger with Twitter Inc submitted on March 15, 2023.
Musk is president of X Corp and it’s parent company X Holdings Corp which was also set up last month with $2million seed capital.
This means Twitter ceases to be an independent company after the merge with newly formed shell company X Corp.
Although the merger has not been made public, registration for X Holdings Corp on April 2022 means there was a plan from Musk to leverage X Holding’s entities to secure Twitter.
This means X Holdings Corp oversees Twitter Inc while another X Corp seizes to exist following the merger with Twitter.
Musk registered two companies.
On March 15, he applied to merge Twitter with X Corp.
The merger means X Corp formally merges with Twitter.
Wait, Twitter soon to be X?
Merger filed with Twitter and X Corp and X being the survivor? pic.twitter.com/oNDkZufsHQ
— SpacTrader110 (@SpacTrader110) April 4, 2023