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Twitter Inc, the parent company of the namesake social media platform, has ceased to exist and it has now been merged into X Corp., court filings show.
‘Chief Twit’ Elon Musk also appeared to be acknowledging the change early on Tuesday by tweeting out “X.”
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Why It's Important: The disclosure of the corporate status assumes importance because Musk, who bought the platform in late October 2022, harbors Musk’s lofty ambition of transforming Twitter into an "everything app" along the lines of Tencent-owned WeChat in China.
In October 2022, just ahead of the purchase, Musk said buying the platform is an "accelerant to creating ‘X,' the everything app."
In the "All-In" podcast in May 2022, Musk brought up WeChat's name and said it does everything and is something like Twitter, plus PayPal, and "a whole bunch of things" all rolled into one with a great interface.
Read Next: Elon Musk Accuses Substack Of ‘Massive Theft’ In Attempt To Compete With Twitter
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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