Twitter “No Longer Exists”

In March 2023, Elon Musk told Twitter employees that they’d be eligible to receive stocks in X Corporation, the holding company he initially set up to purchase Twitter. He told employees Twitter could be worth $250 billion.

Now, according to an April court filing, Twitter has officially merged with X Corp, stating that Twitter, Inc. “no longer exists.”  The companies have merged into “X Corp”.

The only public announcement of the merger so far came in the form of a tweet from Musk that simply said “X,” shortly after news broke.  It is still unclear at this point what the merger ultimately even means. Some believe that the merger is the next move in Elon’s quest to launch an “everything app” similar to “WeChat” where users can send payments, shop and message other users – all in one app. Launching an “everything app” would be one way that Musk could justify the $250 billion valuation he put on Twitter before the merge.

Others speculate that the move could just be the first in a line of steps Musk could take to lump all of his companies – Twitter, SpaceX, Tesla, Neuralink, and The Boring Company – under one parent company called “X”.

Musk’s unpredictability leaves the brands future in the air. According to Journalist Dave Troy, recent actions from Twitter and Musk might signal that they are preparing to “kill off a beloved (?) global brand.”

Musk has said previously that he believes he would be able to transform Twitter into X, the “everything app”, within the next 5 years. Experts balk at this however, citing that regulators would get in the way due to antitrust and security concerns. However if he stays ahead of regulators, he just might be able to create he dream app and justify that $250 billion valuation.

Story via Ars Technica