In a sudden and unexpected turn of events, Twitter’s corporate identity has been replaced with ‘X.’ The cause? Elon Musk’s platform company, ‘X,’ has absorbed Twitter, according to Bloomberg.
It was reported on April 11th that Twitter Corporation had merged with ‘X’ Corporation, founded by Tesla CEO Elon Musk. The merger has resulted in Twitter no longer existing as a separate entity.
The lawsuit filed against Twitter Corporation by conservative activist Laura Loomer revealed that the social media giant had merged with ‘X’ and ceased to exist as a company.
Last year, in April 2022, Musk had bid for Twitter, and established a holding company called ‘X Holdings’ in Delaware. The ‘X Corporation’ was founded in Nevada on September 9th, and the merger paperwork was submitted on the 15th of the same month.
Musk’s tweet on the day of the merger announcement was cryptic yet suggestive. He posted a single letter ‘X’ on his Twitter account, which garnered over 40 million views within a day.
Bloomberg analysts interpret the post as a sign that Musk’s vision for a super app is taking shape. In October 2022, Musk had stated that acquiring Twitter was a catalyst for creating an app that would combine messaging, payment, and remote vehicle calling, among other features.
Mandip Singh, a Bloomberg analyst, suggests that Musk could create a holding company structure similar to Alphabet, Google’s parent company. Singh also comments that big tech companies such as Alphabet and Meta are struggling, and Musk’s ambitious plans for Twitter could provide the solutions that the tech industry is seeking.
The merger between Twitter and ‘X’ has ignited discussions and speculations about the future of tech and the potential impact of Musk’s super app. Only time will tell how this ambitious vision will unfold.