Elon Musk renewed the deal to buy Twitter for $44 billion. This sparked a new debate about what the billionaire would do with the service if he became its owner.
Musk wrote on his page that the purchase of Twitter is an “accelerant to create X, an everything app.” He did not provide any details. However, earlier Musk hinted that he may launch a new social network on the domain of the online bank X.com, which he founded back in 1999 and later grew into PayPal. The domain itself remains owned by Musk, so he will probably be able to merge it with Twitter.
Buying Twitter is an accelerant to creating X, the everything app
— Elon Musk (@elonmusk) October 4, 2022
It seems that Musk is hinting at the so-called “super apps” that are popular in China and other parts of Asia. They were first introduced by such companies as the Chinese technology giant Tencent.
The term “super app” is used to describe an application that often acts as a one-stop-shop for all of a user’s mobile needs. For example, you can order a taxi or food through the app and make payments and exchange messages at the same time. This eliminates the need to have multiple apps for different functions.
China’s WeChat, run by Tencent, is the world’s largest super app with over a billion users. So it will not be surprising that by investing crazy money in the purchase of Twitter, Musk can completely change the model of using the social network. However, it is not a fact that it will help attract more users to it and increase profits.