According to reports, Twitter, the microblogging platform, no longer exists as an entity as it has been fused with a new company, X Corp. X Holdings Corp is reportedly the parent company of the privately held firm X Corp.
The merger is a move by Twitter CEO, Elon Musk, to establish X, the ‘super app’ or ‘everything app.’
Last year, Musk had muted the idea of buying Twitter as a precursor to creating X, the Everything app, “Twitter probably accelerates X by three to five years, but I could be wrong,” Musk tweeted.
The super app is expected to serve as a one-stop solution, including incorporating a payment platform. The recent filing is part of legal proceedings in a suit instituted against Twitter by Luara Loomer, who accused the microblogging firm of racketeering when it banned her account in 2019.
Twitter is expected to continue to submit corporate disclosure statements in court. A court document shows that X Corp is now the defendant in the Loomer case. X Corp was registered in April 2022 and is owned by Elon Musk.