“Twitter Inc.” has ceased to exist as an independent company as it has merged with a newly formed shell company called “X Corp.”. The revelation can only fuel speculation about what Elon Musk has in mind for the social networking platform.
According to an April 4 document filed in a California court in a lawsuit filed by conservative activist Laura Loomer against the company and its former CEO, Jack Dorsey, “Twitter Inc.” no longer exists, after merging with “X Corp.”, notes Bloomberg.
The phrase “Twitter Gone” has started trending in Japan and elsewhere.
It is unclear what this change means for “Twitter”. After all, the company has undergone sweeping changes since Musk bought it for $44 billion last year.
The billionaire owner has previously said that the acquisition of Twitter would accelerate the creation of X, which he described as an “everything app”. Yesterday, Musk posted a “tweet” consisting only of the letter “X”.
The world’s second richest man has stated his desire to make “X” something similar to China’s “WeChat”, a super-app owned by “Tencent”. “WeChat” is used for everything from payments and booking event tickets to messaging.
Musk also owns the “X.com” domain, as that was the name of his early online payments company, which eventually merged with “PayPal”.
Musk could create a parent company, similar to “Alphabet”, where he would have all his businesses, explains Mandeep Singh, an analyst at Bloomberg Intelligence. I don’t see how it can integrate e-commerce or payments into Twitter at a time when bigger companies like “Alphabet” and “Meta” are trying to become a one-stop-shop for consumers.
Source:
(Συνολικές Επισκέψεις: / Total Visits: 29)
(Σημερινές Επισκέψεις: / Today's Visits: 1)