Elon Musk announces X the everything app: What is it
Elon Musk claimed that acquiring Twitter will fasten the development of 'X, the everything app'
Musk dubbed the acquisition 'an accelerant' to creating a multipurpose app
Musk has expressed his desire to make Twitter more functional before
Elon Musk claimed that acquiring Twitter Inc. will fasten the development of "X, the everything app," implying that he intends to expand the capabilities of the social media site he is attempting to take private.
In his first statements to the public following the revival of the plan to pay $44 billion for Twitter, Musk dubbed the acquisition "an accelerant" to creating a multipurpose app.
Musk has expressed his desire to make Twitter more functional, saying he wants it to resemble WeChat, a messaging app that is extremely well-liked in China, and TikTok, a Chinese-owned video-sharing app that has become quite popular in the US.
He compared them to so-called "super apps," which are popular in some areas of Asia and let users use a single smartphone application for a variety of functions, including messaging and other forms of communication, ordering food, and calling a cab.
Musk emphasised his frequent usage of Twitter during Tesla Inc.'s annual shareholder meeting in August and his ideas for how to improve the social media site "radically." He contrasted his goals for Twitter with the vision he had for X, a firm he co-founded in 1999 that provided financial services.
Musk admitted that he had a "grander vision" for what X.com or X Corporation might have become in the past. It’s a pretty grand vision, and obviously that could be started from scratch, but I think Twitter would help accelerate that by three to five years.” It is something that will be very useful for the world," he added.
The proposed acquisition gained attention on Tuesday after Musk informed Twitter's board that he is ready to uphold his end of the bargain and pay $54.20 per share.
Musk had previously tried to back out of the agreement, which was initially inked in April, by claiming that Twitter had deceived him about the prevalence of automated accounts known as "bots." Later this month, a Delaware court would hear a legal dispute intended to compel Musk to finalise the transaction.