Billionaire Elon Musk posted via his official Twitter account on October 4, stating that “buying Twitter is an accelerant to creating X, the everything app” after he proposed to go ahead with his original offer of 44 billion dollars to buy the social media platform to make it private.
Buying Twitter is an accelerant to creating X, the everything app
— Elon Musk (@elonmusk) October 4, 2022
In response to a fan that said it “would have been easier to just start X from scratch,” Elon Musk replied, “Twitter probably accelerates X by 3 to 5 years, but I could be wrong.”
Twitter probably accelerates X by 3 to 5 years, but I could be wrong
— Elon Musk (@elonmusk) October 4, 2022
The billion just teased the X apps, which services may be similar to that of the Chinese super-app, WeChat. Musk only tweeted a single line, but it may be a hint at the so-called ‘super apps’ that are well-known in China and other parts of Asia.
Musk once publicly praised the Tencent Holdings Ltd. app, WeChat, which evolved from a messaging platform into a mini-internet used by more than a billion Chinese people daily.
Super apps is a term to describe an app that acts as a one-stop shop for all individual mobile needs. For example, It can be used to order a taxi or food, simultaneously send messages, and make payments. Super apps eliminate the need for installing multiple apps for different functions, such as mobile banking and barcode scanning on smartphones.
In addition, Elon Musk had given in to Twitter’s legal demands and reopened the takeover offer to purchase the social media platform for $44 billion (£38 billion) only days before a legal battle over the agreement was scheduled to start.
Following months of legal drama, Musk’s lawyers confirmed in a court filing on Tuesday that he is ready to move forward with the purchase of Twitter under the agreed-upon terms.
According to the filing made public on Tuesday, Musk wrote to Twitter offering to close the deal at the initial price of $54.20 per share, which resulted in a temporary suspension of trading of the company’s stock as the price rocketed more than 12% in New York.
The decision came after the billionaire attempted to withdraw from the agreement in July, claiming Twitter management’s estimates of the amount of fake or spam accounts on the platform were falsely low.
