Why is Twitter X

 

Long before Elon Musk’s $44 billion purchase of Twitter Inc. last year, he would talk about building an all-encompassing service called “X.” In typical Musk fashion, the concept was expansive and amorphous. Then over a weekend in July, he kickstarted that venture by abruptly changing the name and logo of the influential social media platform. Now dubbed X, it’s the start of the billionaire’s vision to transform Twitter into what he’s calling “the everything app.”

Musk wants to evolve the social media site from a public messaging service into something much broader, including a one-stop shop for financial services. The original name and blue bird logo made sense when the service was just 140 characters, “like birds tweeting,” he said. “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,” said new chief Executive Officer Linda Yaccarino.

What does this mean for Twitter?

For now, the platform's rebrand is just a name change — no new features have been introduced, staying true to Musk's apparent preferred product strategy of hype first, delivery much later.

But the name change suggests Musk is likely to keep control of the company for the near future, said Bloomberg Intelligence analyst Mandeep Singh. After Musk's takeover in April of 2022, some observers believed the billionaire could make some changes to Twitter and quickly flip it to a different owner, Singh said.

"That option is off the table now given the name change — I don't think there's any other prospective buyer who will take it now," he said.

Why Twitter is now called X?

This week, Twitter dropped an iconic bird logo and replaced it with the letter ‘X’ to make a big splash in the evolving company following Elon Musk's takeover in April. It is still unclear whether the change to the logo will attract more users to the struggling social media brand.

Elon Musk tweet about twitter: