The entrepreneurial billionaire Elon Musk revealed what was the reason why he bought Twitter. In a message on the social network, he mentioned that she plans to create X, the application of everything.
This is not the first time that the businessman mentions this enigmatic portal. In 2017, Musk bought the X.com domain claiming that he had sentimental value as it bore the name of an online bank he had co-founded in 1999 and that PayPal owned for 16 years.
Twitter accepted Elon Musk’s purchase proposal, for $44 billion, the price agreed in April
At that time, the fate of X.com was uncertain, however, in a meeting with a Tesla shareholder he had indicated that he had “a kind of bigger vision than I thought X Corporation could have been in the past… It is quite a grand vision and of course you could start from scratch, but I think Twitter would speed that up by three to five years.
In the last five years the portal has not changed and only an X on a white background can be seen. Musk revealed that with the purchase of Twitter his project could be accelerated from 3 to 5 years.
Buying Twitter is an accelerating to creating X, the everything app
— Elon Musk (@elonmusk) October 4, 2022
Although great details of the project are not known, it could be linked to a social network that has less censorship and that avoids what almost puts the purchase of Twitter at risk, which are bots. In a presentation in May obtained by The New York Times, it was detailed that the product could be implemented in 2023 with 9 million subscribers in a year and by 2028 it would have already reached 104 million.
This Tuesday Twitter and Musk agreed to buy and sell the social network for 44,000 million dollars, the price proposed last April. This is also expected to put an end to the legal conflict between the two.
The agreement could already be sealed between Thursday and Friday.
The announcement “is a clear signal that Musk recognizes that his chances of winning against (Twitter’s) board in a Delaware court are very slim, and that the $44 billion buyout will happen one way or another.” said analyst Dan Ives of Wedbush Securities. (YO)