Elon Musk Tweets "X" To Highlight Twitter Isn't A Company Anymore

 Elon Musk Tweets "X" To Highlight Twitter Isn't A Company Anymore


The next stage for Twitter 2.0 could potentially include a name change for the app, with Twitter Inc. now , with the company being rolled into another corporate entity called ‘X Corp’, under Elon Musk’s ownership.

The merger was revealed in tendered as part of legal action being taken against the app.

As per the :

“Twitter Inc. has been merged into X Corp. and no longer exists. X Corp. is a privately held corporation, incorporated in Nevada, and with its principal place of business in San Francisco, California.”

The change links back to Musk’s vision for an ‘everything app’, which he has referred to as X, for which Musk also holds the X.com URL, as part of his future planning for the app.

What, exactly, Musk’s X app would be, but last October, as he was finalizing his deal to acquire Twitter, he reiterated that X remains his long-term plan for the business.

Musk has talked about building an app that could provide similar, all-encompassing functionality to how , with Chinese citizens doing everything in the app - from paying bills, to buying public transport tickets, registering their details, grocery shopping, etc

Musk, with his background in digital payments, and the connectivity of Twitter, is hoping to integrate payment functionality into tweets, making it easy to transfer funds, free of charge, around the world.

As Musk last month:

“So, let’s say you want to be able to send money easily from one account on Twitter to another account effortlessly, with one click, you want to be able to earn interest on that money, you want to be able to have debt, so you can let your interest can go negative. Basically, I think it’s possible to become the biggest financial institution in the world, just by providing people with convenient payment options.”

Musk also noted that he believes that PayPal, the company that he , is ’like a halfway version’ of what he thinks could be done in online payments and finance.

Musk originally founded an online banking startup called X.com in 1999, which was eventually acquired by PayPal, and merged under the broader PayPal banner. But that only came after Musk was ousted as CEO by the PayPal board, and it seems that Musk had unfinished business with the concept – and worth noting that, when Musk served as CEO, , with the name change coming after the change in management.

Musk provided more insight into his vision for digital finance in an :

“In my view, the Internet had gone through a couple of stages and was ready for another stage. The first stage was where people could trust the Internet for information. This was perhaps ’95 or ’96. The second was to trust the Internet for purchases and begin to use credit cards online to buy books, toys, pet food and that kind of thing. I think we’re at the third stage now where people are ready to use the Internet as their main financial repository.”

 

 

 

 

 

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