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Twitter is now part of X Corp: 101 on why it "no longer exists"

Twitter is now part of X Corp: 101 on why it "no longer exists"

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Twitter ceased to be an independent company this week after it merged with a newly formed shell firm called X, according to court documents seen by MARKETING-INTERACTIVE. 

Now, after over a year of incredible uncertainly and volatility at Twitter since Elon Musk took the helm, Twitter as a company simply "no longer exists".

If you tuned out of the Twitter conversation at some point after Musk's antics got too wild (remember when he fired his entire comms team and had Twitter's press email auto-reply journalist with a poop emoji?), we have you covered. Here's everything you need to know about Twitter's merger with X Corp and what it could mean for the future of the social media company. 

What happened?

In court filings dated 4 April, it was quietly revelated that Twitter Inc. now "no longer exists" after it was merged into X Corp.

Court documents were submitted in a California court for a lawsuit that was filed against Twitter and Jack Dorsey, the company's former chief executive, in 2022. It was filed by conservative activist Laura Loomer. according to Bloomberg.

Don't miss: Why Twitter Inc "no longer exists" 

 What is X Corp?

X Corp is a privately held corporation whose parent corporation is X Holdings Corp, according to court filings. X Corp was founded by Musk in 2023 and is headquartered in San Francisco.

While Musk first set up a trio of holding companies in Delaware in April 2022 with a variation of the name 'X Holdings', X was only established on 9 March in Nevada, according to media reports. The merger with Twitter was subsequently submitted on 15 March. 

The name "X" actually came about in 1999 when Musk co-founded an online bank, later became PayPal.

X Corporation on the other hand looks to be a business that is focused on helping Musk to achieve his goal of developing an app that can do everything though he has been quiet about how it will exactly work or how it will fit into his other businesses such as Tesla and Space Exploration Technologies.

Musk is currently the president of X and X Holdings and reportedly has an authorised capital of US$2 million. 

Saying that, Twitter's name has yet to be changed and it is unclear if this will actually happen. 

What is the 'everything app'?

Musk has long talked about the 'everything app', an app that takes inspiration from massive Asian apps such as WeChat and Grab and the merger itself seems to be one step closer towards Musk's goal of creating this app in the West. 

In October last year, Musk revealed in a tweet that buying Twitter was an "accelerant to creating X, the everything app." Musk elaborated on this in an All In podcast with where he stated that he hoped to create a super app that can help with a variety of everyday needs. This would likely be similar to apps such as Grab or WeChat which Musk commended in the podcast before noting that we don't have an app similar to WeChat outside of China. 

MARKETING-INTERACTIVE reached out to Twitter for a comment, but only received a poop emoji in response

The news comes just days after Musk also revealed that the final date for removing legacy Blue checks is 20 April. The check marks are meant to verify the accounts of celebrities, public figures and notable personalities. Musk said that in order to stay verified, these users would need to pay US$8 a month to join the platform's Twitter Blue subscription. If not, they would have their verified status revoked.

Musk also recently changed Twitter's bird mascot to Doge, a Shiba Inu who is the face of Dogecoin. The change was made two days after April Fools which caused users to suspect that perhaps this was a prank. However, it appears to have been changed back since. 

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