Twitter has ceased to exist on paper
Twitter Inc has been merged to Elon Musk owned entity X Corp. This effectively means twitter has ceased to exist. X Corp a privately held corporation has absorbed twitter. X Corp is basically a shell company incorporated in Nevada. This incident has added to the uncertainty arising out of takeover of twitter by Elon Musk coupled with repeated waves of layoffs, but concurrently this incident has given some clues about Musk’s plans for twitter.
Musk was till recently silent about merger of twitter with X Corp but on Tuesday by tweeting single letter X, Musk announced the merger. In the past Musk had shared his idea of buying twitter to create X. Musk’s long cherished desire is to make X a everything app akin to China’s WeChat. WeChat allows wide range of activities from payments to ticket bookings to messaging.
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