Twitter Inc. is now X Corp. The social media platform is no longer independent after merging with the newly formed Shell firm X Corp owned by Musk. According to Bloomberg, the move follows an April 4th filing submitted in a California court.
Before completing his Twitter takeover last year, Musk told employees in a virtual meeting in June last year that he wanted Twitter to be an everything app like WeChat. “There’s no WeChat equivalent outside of China. You basically live on WeChat in China. If we can recreate that with Twitter, we’ll be a great success,” Musk said. On Tuesday, Musk tweeted “X”, hinting at the move.
It is unclear which step Twitter will take after this, but it seems like Musk is starting the process of making Twitter an all-in-one platform. Owned by Tencent Holdings Ltd., WeChat is a multipurpose app in China with built-in social media, booking and payment features. According to Bloomberg, Musk also owns the domain “X.com,” which is the name of the online payments that merged with PayPal.
Musk began the “X” movement last year in April, setting up three holding companies in Delaware with the name variation “X Holdings” before completing his Twitter takeover last year. According to state records, X Corp was set up on March 9th in Nevada, but the merger with Twitter was submitted on March 15th.
Musk “X” has gathered more than 20 million impressions, with many speculating on what next the billionaire has in stock for Twitter.
Image: SUZANNE CORDEIRO via Getty Images – Elon Musk