April 17, 2023: Twitter merges with an “everything app” called X. Continue reading to know more!
Twitter quietly disclosed in a court filing that it no longer exists and has merged with X Corp, which is a privately held corporation in Nevada with its principal place of business in San Francisco, California.
Elon Musk has dissolved Twitter’s parent company, Twitter.Inc merging it with his newly created X Corp.
Incorporated name means that a company’s business is a legal corporation. A corporation or ‘Inc.’ is an entirely separate entity from its owners and shareholders which means that the company is liable for it’s own tax and legal actions and the business owners can’t be held liable for the company’s debts as in case with sole proprietorship and partnership.
The company Apple, for example, was incorporated under the full name Apple.Inc, while Microsoft is formally incorporated as Microsoft Corporation.
Whereas a Brand name is the name that you use to identify the family of products or services that you offer or a single line of products or services that you offer.
For example, Nike is the brand name used on most products manufactured by Nike.Inc . In this example, the business name and the brand name are the same.
However, a business name and brand name doesn’t have to be the same like many companies have many brands, for example, Apple is a company with many brands like iPads, IPhones, iPods etc.
Twitter.Inc was an American social media company based in San Francisco, California. The company operated the social networking service Twitter.
Though Musk still runs the daily operations of the social media platform Twitter, he has always been interested in creating an application that could offer comprehensive features, for example, the app WeChat of China.
Musk’s interest in creating an all-encompassing app dates back to when he co-founded an online bank called X.com, which was later merged to form PayPal. Now, Twitter merging with X Corp would be a significant development for his long-term business plan, which includes creating this all-encompassing app that offers a variety of features and could compete with other social media platforms like Facebook, Instagram, and Snapchat.
Since the US currently lacks an app that can offer social networking, messaging, and a payment system, Musk has always desired to create such an app that would be the “super app,” serving these functions and that’s why Musk described his acquisition of Twitter as an accelerant to creating X, the everything app. He believes that the creation of such an app would be the next logical step for the US.
Musk has not revealed the change publicly but has kept a public pattern with the letter X, including the name of his child, a website he owned, X.com, before he co-founded PayPal, and the current names of his companies and products, such as SpaceX and Tesla. He ambiguously tweeted “X” when reports of the change trended on the platform.
Yet the legal filing stating that Twitter has been merged into X Corp was actually posted by a journalist, Laura Loomer, who is suing Twitter among other social media platforms.
The legal document was signed by lawyers including Johnathan Patchen, Michael Gottlieb, Meryl Conant Governski, Kristin E. Bender, and Yuhan Alice Chi of Willkie Farr & Gallagher LLP. The case includes Loomer suing Meta platforms and Facebook, as well as their CEO, Mark Zuckerberg; Twitter and former CEO Jack Dorsey; and Proctor and Gamble. The racketeering case was initially filed in the U.S. District Court for the Northern District of California, San Francisco Division, on May 2, 2022. In a separate filing in the U.S. District Court for the Southern District of Florida, Miami Division, Twitter lawyer Joshua Webb also presented documents to show that “Twitter, Inc. has been merged into X Corp. and no longer exists.”