Cathie Wood sees Elon Musk turning Twitter into a ‘super app’
Marco Bello


ARK Invest CEO Cathie Wood is bullish on Elon Muskâs Twitter (NYSE:TWTR) takeover, with the high-profile innovation investor arguing that the CEO of Tesla (TSLA) could turn the social media app into his planned "super app.â
A super app is the concept of an all-in-one platform where users can leverage one centralized application for multiple uses. Such an offering could include instant messaging, e-commerce, payment transfers, general banking and many other potential areas of business and social interaction.
According to CNBC, Wood, whose flagship ARK Innovation ETF (NYSEARCA:ARKK) holds a major position in TSLA and has had stakes in Twitter in the past, told at the Web Summit in Lisbon on Wednesday that âheâs thinking about a super app like WeChat Pay.â
WeChat, a China-based app used by 1.2B people, was one of the first applications to combine the idea of messaging, payments, e-commerce and other functions within a single application.
Moreover, Musk had already hinted at the idea of a super app in early October when he stated in a tweet: âBuying Twitter is an accelerant to creating X, the everything app.â
âRemember [Musk] started in the payments industry... he sold his company to PayPal,â Wood said in her presentation, per CNBC. "He and Jack Dorsey working together, I think, could turn this into a super app."

In other related ARK Invest news, Woodâs ARKK recently celebrated its eighth birthday on Monday and its lifetime gains show that it has underperformed the S&P 500.