Twitter, once a publicly traded corporation, no longer exists as a company. Elon Musk, the founder of X Corp, has merged Twitter into his entity, making it a part of X Holdings Corp. This move, which only became public after lawyers for Twitter were forced to disclose it in an ongoing lawsuit, is seen as a sign of Musk’s plan to turn Twitter into an “everything app”.
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The Merger
The merger between Twitter and X Corp was made official in a court filing, which stated that “Twitter, Inc. has been merged into X Corp. and no longer exists.” X Corp is a privately held corporation, and its parent corporation is X Holdings Corp. No publicly traded corporation owns 10% or more of the stock of X Corp. or X Holdings Corp.
This means that Twitter, which was once a publicly traded company, is now privately held and part of X Holdings Corp, along with other Musk-owned companies like Neuralink, SpaceX, Tesla, and The Boring Company.
Elon Musk’s Plan
Musk has long been interested in turning Twitter into an “everything app” that offers all basic online services in one platform, from making a payment to ordering a taxi. In fact, he once tweeted that “Buying Twitter is an accelerant to creating X, the everything app. Twitter probably accelerates X by three to five years, but I could be wrong.”
This move is seen as the next phase of his plan to create an “everything app” and offers a glimpse into what the future of Twitter could look like.
Super Apps
Super apps, which offer multiple online services in one platform, have been hugely successful in Asia, particularly in China. WeChat, for instance, offers users a wide range of services, from messaging to payments to ordering a taxi. However, attempts to create super apps in the West have so far failed.
Industry experts have questioned whether Musk can succeed in transforming Twitter into a super app. Social media expert Matt Navarra said at the time, “Could Twitter form part of a super app that lets you buy goods, chat to friends, get news updates, book a taxi, etc.? Sure. Can Elon Musk make it work? Possibly. Will Elon actually do it? Who knows.”
Conclusion
Twitter no longer exists as a company after being merged with X Corp by Elon Musk. This move is seen as the next step in Musk’s plan to turn Twitter into an “everything app”. It remains to be seen whether he can succeed in creating a super app in the West, but the move has certainly piqued the interest of industry experts and the general public alike.
FAQs
- What happened to Twitter after Elon Musk merged it with X Corp?
- Twitter no longer exists as a company after being merged with X Corp by Elon Musk.
- What is Elon Musk’s plan for Twitter?
- Musk’s plan is to turn Twitter into an “everything app” that offers all basic online services in one platform.
- What is X Corp?
- X Corp is a privately held corporation owned by Elon Musk.
- Can Elon Musk succeed in transforming Twitter into a super app?
- It remains to be seen whether he can succeed, but industry experts have questioned his ability to create a super app in the West.
- What are super apps?
- Super apps offer multiple online services in one platform and have been hugely successful in Asia, particularly in China.
COMMENTS
He said he wants to do this multiple times so this merger is not a surprise for me. I think Musk can create a super app with Twitter as the foundation but it will take another 5+ years to get there and a lot of investment.
WeChat works because it’s based in China where the government controls everything and they don’t need to worry about transparency, data safety, etc. They don’t have to answer to the public or anyone else. Try doing this exact thing in the US or UK and it will surely fail.
Exactly! There’s no accountability and many, many roadblocks are not even a thing in China. Creating something like this in the US is considerably more difficult and time consuming. Will we get there? Of course. It’s inevitable at this point.
Wanting to create a super app is not inherently a good or bad idea, it’s the implementation that will matter in the end. How will this app work? What will it provide its users? What flaws will it have? How safe will it be?