A series of tweets on July 13th witnessed tech tycoon Elon Musk hinting that the Twitter platform will be rebranded as “X”. Fast-forward to July 24th, the feathers of the iconic blue bird have vanished and “X” is prevalent.

After months of teasing, Musk replaced the recognizable logo to a simple, black “X”. X.com, initially funded by Elon Musk Greg Kouri, was an early online bank.

In March of the current year, Musk established X Corp. with Twitter as the parent company in efforts towards paving the way for the planned transformation.

According to Twitter CEO Linda Yaccarino:

“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. Powered by AI, X will connect us all in ways we’re just beginning to imagine.”

The rebranding was not well received by many Twitter - or shall we say - X users. Heaps of users voiced their dissatisfaction with the decision, while others appeared to be at peace with the idea yet would still refer to the platform as “Twitter”.

Twitter’s advertising revenue dropped by 50% and the company is dealing with a heavy debt load; such move may the make or break for the social media giant.

Sources:

https://cointelegraph.com/news/twitter-rebrand-to-x-elon-musk-everything-app

https://cointelegraph.com/news/twitter-bluebird-elon-musk-rebrands-x

https://twitter.com/lindayacc/status/1683213895463215104