Twitter no longer an independent company

The Elon Musk-owned company merged with X Corp, ceasing to be an independent company

Twitter ceased to be independent after merging with X Corp., chaired by Elon Musk, according to court documents obtained by Bloomberg in a lawsuit filed by activist Laura Loomer against the company and its former CEO Jack Dorsey.

The document states that Twitter “no longer exists” after the merger with X Corp., which was created by Musk with the aim of emulating the model of the Chinese platform WeChat, offering functions such as payments, ticket reservations and integrated messaging.

Musk registered several companies with variations of the X Holdings name as part of his bid to acquire Twitter, but X Corp. was recently incorporated in Nevada. Elon Musk is the president of X Corp. and also of its parent, X Holdings Corp., which was incorporated last month with a capital of two million dollars.

So far, Twitter has not commented on it, but Musk shared a tweet on his Twitter account with the letter “X” on April 11.

K. Tovar

Source: Descifrado

(Reference image source: file)

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