Twitter Inc. no longer exists as an independent entity and has been absorbed by Elon Musk’s X Corp, a privately held corporation.
Though Twitter is still functional as a social media platform, the move is in line with Musk’s intention to convert Twitter from a mere social media platform to an all-encompassing application, similar to China’s WeChat.
In October, following his acquisition of the social media platform, Musk tweeted: “Buying Twitter is an accelerant to creating X, the everything app.”
Earlier this week, Musk dropped a one-letter tweet “X” which served as a subtle indication of his desire to transform Twitter into his previously mentioned “everything app.”
Last year, the entrepreneur and billionaire Musk finalised the purchase of the social media platform Twitter for a sum of $44 billion.
Right off the bat, he made agressive changes within the social media company, starting with firing the firm’s top executives including then CEO Parag Agrawal, CFO Ned Segal and top policy executive Vijaya Gadde.
The company fired more than 50 percent of its workforce, and cut an estimated 4400 out of 5500 contact workers.
