Twitter, Inc. is now called X Corp., according to a court filing in California.
Since Twitter is no longer a public company, it does not have to report updates like name changes to the SEC. But in any case, the new name was spotted in an April 4 document related to far-right activist Laura Loomer’s lawsuit against Twitter and Facebook.
“Twitter, Inc. has been merged into X Corp. and no longer exists,” the document states.
Elon Musk, who purchased Twitter for $44 billion last year, has aspired to build what he calls “X, the everything app.” This proposed app might look like China’s WeChat, which supports messaging, payments, ridesharing, food delivery and other services all in one app. Musk has applauded WeChat for its convenience and utility, yet its unique dominance could be impossible to replicate outside of China. The name also harks back to X.com, Musk’s financial services startup that spun into PayPal.
This move could be seen as the next step toward Musk building his super app, but the mogul does not have a great track record with following through on his plans. Yet the name change is not unprecedented. As CEO of Tesla, Musk has shown that vertical integration is well-loved page in his playbook — just look how many subsidiaries the car company has.
For now, Twitter is riddled with enough bugs to keep its skeleton crew of engineers busy, while the revamped Twitter Blue subscription is not pulling in the revenue it needs. Even if Twitter is now part of the X Corp., the proposed X app seems very far off.
Source @TechCrunch
