While Twitter has continued to function as a social media app despite massive rounds of layoffs and declining ad revenue, it no longer exists as a corporate entity after being merged into a new company called X Corp.
The merger has not yet been publicly announced, but was revealed through court documents filed April 4 as a part of a lawsuit brought against Twitter by right-wing media personality Laura Loomer. The filing provided notice to the court that “Twitter, Inc. has been merged into X Corp. and no longer exists.”
Though the company has not publicly commented on the matter – its press relations team was among those that have been cut by the company in recent months – owner Elon Musk tweeted the letter “X” on Tuesday morning, seemingly acknowledging the filing.
What this precisely means for Twitter as a company is still unclear. X Corp is a newly formed company, which itself is owned by a company called X Holdings, one of several with similar names first set up by Musk last year.
The name, however, reflects previous statements by Musk that he intends to use Twitter as a stepping stone to create “X,” his vision for an “everything app.” He has suggested this could look like WeChat, which is used in China for functions including messaging, payments, shopping and social networking.