Elon Musk will rename Twitter to X and will gradually remove the blue bird branding. The owner of the social media tweeted the news during the weekend, causing a whirlwind of speculations, but newly appointed CEO Linda Yaccarino revealed X will be “the future state of unlimited interactivity – centered in audio, video, messaging, payments/banking”. The revised platform will be “powered by AI”, the executive added.
Not sure what subtle clues gave it way, but I like the letter X pic.twitter.com/nwB2tEfLr8
— Elon Musk (@elonmusk) July 23, 2023
A late-night Saturday post read, “soon we shall bid adieu to the Twitter brand, and, gradually, all the birds”. The x.com domain already redirects to twitter.com, and it is a matter of hours until everything goes live. Company executives already confirmed Twitter Inc. was renamed to X Corp. in the State of Nevada, with its HQ stationed in San Francisco, which is part of the state of California.
Changes around Twitter have been constant since Musk took over after a $44 billion deal went through. The owner fired the executive leaders, dismantled the board of directors, and slashed its workforce from nearly 8,000 employees to just 1,500. These moves, combined with Musk’s controversial opinions on free speech, resulted in a dramatic drop in ad revenue.
It’s an exceptionally rare thing – in life or in business – that you get a second chance to make another big impression. Twitter made one massive impression and changed the way we communicate. Now, X will go further, transforming the global town square.
— Linda Yaccarino (@lindayacc) July 23, 2023
Currently, the soon-to-be-renamed platform is still in a 50% decline in cash flow. One of the attempts to bring back money to the table was to introduce Twitter Blue, which allowed everyone to pay $8/mo for a fancy blue tick that says “Verified” and gives more features, including editing tweets, longer character limit, and ad revenue income.
