Elon Musk’s Twitter no longer exists as a company!:- Elon Musk bought Twitter for $44 billion last year, and has made sweeping changes to the platform since then.
Elon Musk sparked speculation about the future of a company he had previously purchased for $44 billion last October when he posted a single letter ‘X’ on his Twitter account.
According to Bloomberg, an April 4 document submitted in a California court as part of a lawsuit against Twitter and its former CEO Jack Dorsey revealed that the microblogging platform was involved in some sort of merger or acquisition.
However, the details of this transaction remain unclear and have not been officially confirmed by the company. It’s important to exercise caution when interpreting information from unofficial sources.
But that’s hardly surprising about the microblogging platform, which has seen a massive overhaul since Musk took over.
The billionaire had suggested that the acquisition of the social media giant would be an ‘accelerant’ for the creation of X.
Musk’s ‘X’ post went viral in no time, garnering 11,000 retweets and over a million likes on the social media platform. Twitterati was quick to show their creative self through memes on the Twitter chief’s cryptic revelation.
According to reports, Musk has made his intentions clear on making ‘X’ similar to the Chinese app WeChat. However, his stand is unclear on how it will fit within his business empire which includes electric car behemoth Tesla and SpaceX.
He also owns the domain ‘X.com’, the online payments company he started and merged with PayPal. In April last year, Musk started three holding companies with a variation of the name ‘X Holdings’ as part of his bid to take over Twitter.
According to records filed in the state, X Corp was set up on March 9 with its merger with Twitter Inc submitted on March 15. Musk happens to be its president and its parent firm X Holdings Corp which was also set up last month with an authorized capital of $2 million.
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