Elon Musk To Explain Dumping Twitter Name & Logo
by Abdul Aziz Mondal Business Published on: 25 July 2023 Last Updated on: 24 September 2024
On Monday, Elon Musk explained the reasons behind his decision to clear Twitter of its infamous “blue bird” logo, which was a move to reconstruct the business into a wider platform for financial transactions and communications, a target that he explained as the “everything app.”
“This is not simply a company renaming itself, but doing the same thing,”
Musk stated about the evidently spontaneous step that he took over the weekend to crowd score the logo from its fans and adopt it as the new insignia for Twitter.
“The Twitter name made sense when it was just a 140-character message going back and forth- like birds tweeting.”
The billionaire owner’s visualized X app, which is supposed to connect the underlying infrastructure of Twitter with x.com – a web address that now operates as a routing service for Twitter, has layers of multimedia, communication, and
“the ability to conduct your entire financial world.”
In the messages that were posted in solidarity with Musk’s overhaul, the Chief Executive Officer of Twitter, Linda Yaccarino, stated that X would be incorporated with fintech features, including banking and payments.
Being a new arrival at the company, Yaccario is assigned the task of reinstituting trust with the users and advertisers after the series of unanticipated and seemingly whimsical changes implemented by Musk.
The advertising revenue of Twitter has declined by half, as Tweeted by Musk, whereas his biggest rival, Meta Platforms Inc, has put forward direct competition with the Threads app.
Rebranding Twitter to X brought back attention to the social media platform; however, it is unlikely to balance the potential billions of dollars lost in brand value, as per analysts and media experts.
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