Twitter no longer exists as an independent company after it was merged with a newly formed shell company called X Corp. according to a US court filing on 4 April, but it’s unclear what that means for the social media company.
Twitter owner Elon Musk tweeted yesterday (11 April) about the move with the single character “X”.
Bloomberg reported Musk may use the X brand as part of an effort to create an “everything app” similar to Tencent Holdings’ WeChat or use it as a parent structure for his various companies such as Tesla and SpaceX, which would be similar to Google parent Alphabet.
Late last year he tweeted “buying Twitter is an accelerant to creating X, the everything app.”
Bloomberg stated Musk first set-up three companies with variations on “X Holdings” in April 2022 as part of his bid to buy Twitter before X Corp. was established on 9 March. Twitter’s merger with X Corp. was submitted on 15 March, according to the news agency .
The 4 April filing in a US district court was in regard to a lawsuit filed last year by Laura Loomer against former Twitter CEO Jack Dorsey.