- In April, Musk changed Twitter’s legal name to X Corp., combining its assets with those of the new corporate body.
- Musk believes Twitter should be a destination for news consumption, entertainment, and financial transactions.
Twitter’s recognizable blue bird logo will be replaced with an X as part of the company’s long-term strategy to become an “everything app,” according to owner Elon Musk, who made the announcement recently.
In April, Musk changed Twitter’s legal name to X Corp., combining its assets with those of the new corporate body. According to information at the time, X Holdings Corp.’s parent company is X Corp., a privately held company.
Since Musk bought Twitter, there has been talk about the firm changing into something new. In October 2022, Musk stated that “buying Twitter is an accelerant to creating X, the everything app.” On Nov. 9, Musk outlined his plans for Twitter following the acquisition, including the possibility of it becoming an all-encompassing program akin to WeChat in China. Musk believes Twitter should be a destination for news consumption, entertainment, and financial transactions.
When Musk appointed Linda Yaccarino, a former head of advertising for NBC Universal Media LLC, as Twitter’s CEO in May, the decision to transform Twitter into X was further underlined. With the unveiling, Musk stated, I am “Looking forward to working with Linda to transform this platform into X, the everything app.”
According to a string of tweets that began on July 22, 2023, Twitter’s blue bird was about to retire. Musk announced a day later that the new X logo would go online.
Yaccarino took to Twitter to put forth the changes, saying, “X is the future state of unlimited interactivity – centered in audio, video, messaging, payments/banking – creating a global marketplace for ideas, goods, services, and opportunities” also “Powered by AI, X will connect us all in ways we’re just beginning to imagine.” In another tweet, she mentioned that X will transform the global town square.
Like anything from Musk’s statement, these newly proposed changes have been criticized. The Associated Press quoted the statement of Allen Adamson, Co-founder of Metaforce’s marketing consultancy, mentioning that the new development will be “very confusing to a huge chunk of Twitter’s audience, which has been already souring on the social platform given a slew of other major changes Musk has made.”
Musk has been the object of criticism, but efforts to create a competitive Twitter platform continue to fail. On July 5, Meta Platforms Inc. unveiled Threads. Less than a month later, the app is said to have only 13 million active users, even though it initially snowballed and soared to more than 100 million registered users in its first week. In contrast, Twitter reportedly has 237.8 million daily active users.