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The business magnate Elon Musk initiated an acquisition of American social media company Twitter, Inc. on April 14, 2022, and concluded it on October 27, 2022. Musk had begun buying shares of the company in January 2022, becoming its largest shareholder by April with a 9.1 percent ownership stake.
In addition to Twitter, the company previously operated the Vine short video app and Periscope livestreaming service. In April 2023, Twitter merged with X Holdings [6] and ceased to be an independent company, becoming a part of X Corp. [7] Twitter was created by Jack Dorsey, Noah Glass, Biz Stone, and Evan Williams in March 2006 and was ...
Who owns Twitter? SpaceX CEO Elon Musk purchased Twitter, now known as X, for $44 billion in October 2022. Twitter, a text-based social media app, was founded in 2004 by Evan Williams, Biz Stone ...
On March 9, 2023, Musk registered X Corp. in Nevada.On the same day, Musk registered the artificial intelligence (AI) company X.AI Corp. [18] Later that month, Musk applied to merge X Holdings with X Holdings Corp. and Twitter, Inc. with X Corp. [9] In the filing, Musk revealed that X Holdings Corp. had $2 million in capital, but X Holdings Corp. would serve as the parent company for X Corp ...
The lawsuit from the SEC against Musk is essentially about him not disclosing his purchase of a large portion of Twitter’s stock in the months before he announced his intention to buy the company.
The Twitter cofounder previously backed the Tesla CEO in his takeover of the company but walked back his support earlier this year, telling a member on rival social media platform Bluesky, "It all ...
The deal values Twitter stock at about $54 a share, above the $39 that the stock was trading at before Musk's interest in the company became clear in early April, when he purchased a 9% stake in ...
Agrawal was fired as CEO once Elon Musk completed his acquisition of the company on October 27, 2022. [23] [24] Post-Twitter, Agrawal founded an artificial intelligence startup aimed at developing software for large language models (LLMs). The company received $30 million in funding from Khosla Ventures, Index Ventures, and First Round Capital ...