Twitter Inc and X Corp have merges. Elon Musk tweets the letter “X” at noon on Tuesday, sending the internet into a frenzy.
Twitter secretly declared its demise in a court filing in the United States.
“Twitter Inc. merges with X Corp. And is no longer in existence.” “X Corp. is a privately held corporation incorporates in Nevada and headquarters in San Francisco, California,” under Musk himself.
He finalized the purchase of Twitter in October of last year. He reiterates that X remains his long-term business plan.
“Buying Twitter accelerates the development of X, the everything app,” Musk tweeted.
Elon Musk, who is typically loud about everything Twitter. But was quiet about the merger. And the firm has made no public announcement. In addition emails sent to Twitter’s press mail ID are met with a faces emoji. In terms of operations, Twitter appears to be operating normally with the usual logo restored.
This comes only days after Twitter CEO Elon Musk began tinkering with the social media company’s logo. Indeed replacing it with the Dogecoin emblem. Later, it was discovered that Twitter’s lettering at its headquarters lacked a ‘w,’ resulting in ‘Titter’ headquarters.
Following a disagreement with Twitter’s SF headquarters landlord over the name change, Elon Musk opted to remove the covering off ‘w’ but have it painted white, thus camouflaging it with the backdrop hue.
X Holdings
Tesla CEO Elon Musk registered X Holdings I, II, and III in Delaware in April 2022. According to Slate.com, these three separate companies were formed to assist Elon’s purchase of Twitter.
Twitter will merge with X Holdings II under the terms of the 2022 agreement. However, the social media company’s name and organisational structure remain unchanged.
Whereas holdings X I shall be the parent firm of the merged entity.
X is the name of the billionaire’s first child with ex-girlfriend Grimes. Furthermore, in 1999, he launched X.com, an online bank that ultimately merged with PayPal.
Moreover, his space research company is likewise known as SpaceX. And a popular Tesla vehicle is known as Model X.
Following his takeover of Twitter last year, the mogul stated that his purchase will aid in the development of a “everything app” dubbed X. The mega app will be similar to WeChat in China.
