Twitter Inc is no longer a separate entity. The CEO of Twitter tweeted “X” to signify that the firm had been acquired by a fictitious entity called X Corp. The same was revealed in a court document. The court document, which surfaced on social media, showed that Twitter had merged with X Corp. “Twitter Inc. no longer exists after merging with X Corp. The paper stated, “X Corp. is a privately held corporation with its major place of business in San Francisco, California, and was formed in Nevada. March 15 marked the day of the merger. In addition, Elon Musk owns the domain for X.com, a business he started that he later merged with PayPal.

Elon Musk is aiming towards developing an ‘Everything App’

What the shift implies for Twitter, which has undergone a significant makeover ever since Musk paid $44 billion for the firm last year, is unknown. The wealthy owner previously stated that acquiring Twitter will serve as an “accelerant” for developing X, which he referred to as an “everything app.” Musk tweeted on Tuesday with the letter “X” to announce the change.

X

— Elon Musk (@elonmusk) April 11, 2023

The deal may be seen as a step towards Musk’s goals of creating an “everything app” akin to WeChat in China. Many employees were let go by Musk, who paid $44 billion to buy the business last year. The court document is a response to a lawsuit that Laura Loomer filed in 2019. As a result of claimed violations of her free expression rights, Loomer launched a lawsuit against Twitter and its former CEO Jack Dorsey.
When he bought Twitter in October 2022, Musk made it clear that the social media network will aid in the creation of X, the all-encompassing app. It’s unclear if Tesla and Space X would eventually join X Corp.