So Long Twitter, Hello X

Switch comes as speculation mounts over 'everything app'

Elon Musk Responds to Twitter's Plan to Sue Him Over Terminated Deal to Buy Social Media Platform

Twitter is dead—at least on paper: Court filings show the company has been merged into Elon Musk's X Corp., feeding speculation about his "everything app."

Key Takeaways

  • Court documents showed Twitter is now known as X Corp.
  • The privately owned company operates within the X Holding Co.
  • Speculation mounting over Musk's plans for an 'everything app,' which could potentially include messaging and payments.

Journalist Laura Loomer, who sued Twitter for banning her account in 2019, shared photos of legal documents on the social media platform. She also linked them to an Oct. 4 tweet from Musk in which he said his Twitter purchase was, "an accelerant to creating X, the everything app."

The documents show that counsel for the defendant "states that Twitter Inc. has been merged into X Corp. and no longer exists." Loomer's suit accused Twitter of violating federal racketeering laws by banning her.

Musk took to Twitter on Tuesday and tweeted the letter "X" as news spread about the corporate reshuffle. Musk has been tight-lipped over his plans for the platform as speculation mounts that he wants to create an "everything app" along the lines of China's WeChat, which has $1.24 billion users and incorporates messaging, social networking, and in-app payments.

“Musk could create a parent structure, similar to Alphabet, where he has all his companies,” Mandeep Singh of Bloomberg Intelligence told Bloomberg News. Yet creating a parent company similar to Alphabet won't be easy.

“I don’t see how he can layer e-commerce or payments in Twitter right when larger peers such as Alphabet and Meta have struggled to become an everything app on the consumer side," he said.

Article Sources
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  2. Twitter. "Laura Loomer Status".

  3. Twitter. "Elon Musk Status".

  4. Forbes. "Twitter Merging with X Corp".

  5. Statista. "WeChat Statistics".

  6. Bloomberg. "Twitter Becomes X Corp."

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