According to a court document, Twitter Inc. ceased to exist as an independent company and is now part of another Elon Musk company.
Twitter Inc. ceased to exist as a brand, as the company has officially joined X Corp, a company created by Elon Musk, according to a court document filed on April 4 in a California court.
Said document is related to a lawsuit filed by Laura Loomer (who accused the platform of violating federal laws against organized crime after it blocked her account) and mentions that Twitter Inc. “has merged with X Corp and no longer exists”.
Although Loomer has already recovered its profile on the social network, while the process is still open, the company has the obligation to inform all the changes that are applied in its structure; that is why the merger with X Corp. was announced.
The document reads: “Successor in interest to Twitter Inc. i.e., the survivor of the merger, X Corp. is now the defendant in the Loomer lawsuit. Its parent company is identified as X Holdings Corp.”
In April 2022, when Elon Musk made known his intentions to buy Twitter, the world’s second richest man registered X Holdings I, II and III, in Delaware, three companies designed to facilitate the transaction.
Elon Musk had the idea of merging Twitter with X Corp since before he acquired the company for $44 billion in October last year.
“Buying Twitter is an accelerator to create X, the app for everything,” he tweeted on Oct. 4.
Elon Musk posited that the tie-up was aimed at having a platform similar to China’s WeChat, an app that offers different services to users, such as bank payments and travel bookings.
Since acquiring Twitter, Elon Musk has made several changes, such as the Twitter Blue subscription system.