What is X app: Elon Musk says Twitter takeover acts as accelerant for planned WeChat rival – Fortune

Elon Musk has an explanation for his screeching Twitter U-turn.

Successfully sued by the social media platform into honoring a contractual obligation to buy the company, the centibillionaire said the $44 billion acquisition would facilitate plans to create a rival to China’s WeChat, the world’s best-known one-stop shop for a consumer’s everyday digital needs.

“Buying Twitter is an accelerant to creating X, the everything app,“ Musk tweeted late on Tuesday.

X Holdings is the name of his investment vehicle slated to purchase the company and could form the legal backbone of a new corporate empire linking all his various business interests.

What is WeChat?

As a result of China’s draconian censorship laws, internet firms like Google, Amazon and Twitter have either been barred from use or face considerable restrictions.

To serve similar needs while operating within the political confines of the “Great Firewall of China”, domestic clones sprang up like search engine Baidu, e-retailer…

Read Full Story: https://fortune.com/2022/10/05/what-is-x-app-elon-musk-twitter-takeover-accelerant-for-wechat-rival/

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source: https://news.oneseocompany.com/2022/10/05/what-is-x-app-elon-musk-says-twitter-takeover-acts-as-accelerant-for-planned-wechat-rival-fortune_2022100532289.html

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