Twitter rebrands into X
CALIFORNIA, UNITED STATES — Social media platform Twitter underwent a major rebrand as it transformed its name and logo into ‘X’.
Spearheaded by the firm’s owner Elon Musk and CEO Linda Yaccarino, Twitter is eradicating the bird logo and swiftly incorporating banking, commerce, and payments into its services.
Musk explained ‘X’ as a stepping-stone towards an all-encompassing app, harking back to his early venture, X.com, which later evolved into PayPal.
Meanwhile, Yaccarino tweeted, “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.”
“There’s absolutely no limit to this transformation. X will be the platform that can deliver, well… everything,” the CEO added.
The advertising business of Twitter suffered a setback following Musk’s controversial US$44 billion acquisition and ensuing layoffs. To overcome this, he introduced commerce and payments to diversify revenue sources.
Despite facing criticism from advertisers and users over changes in service charges, content moderation, and reactivation of banned accounts, Musk remains resolute.
Interestingly, Meta’s recent launch of a rival platform, Threads, has seen a drop in user engagement, suggesting a potential opening for ‘X’ in its journey toward transformation.
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