Musk Twitter has undergone a rebrand as the SpaceX boss, Elon Musk, continues to rebrand the Social Media Giant, formerly represented by the iconic twitting bluebird.
On Sunday, 23 July, in a series of posts, Elon made the shocking announcement of his plans and showed his company’s new identity, represented by the letter X, writing: “the imperfections in us all that make us unique.”
— Elon Musk (@elonmusk) July 23, 2023
The platform now features the new X logo, and the old identity showing a bluebird has flown away.
Elon Musk has shown hints of changing the default color of Twitter’s app from blue to black. He has also suggested that tweets should no longer be called “tweets” but rather just “x.”
But the question arises just that “Why would a company rebrand its whole brand identity?
Now what we call X (Twitter) is not an overnight concept given by Elon, but rather it’s just a continuation of the SpaceX boss’s grand plan of proving everything from a single app. The idea is just a continuation of his online payment company named X.com, which later merged with a software company and later called Paypal.
Musk has already renamed the Twitter Brand’s parent company X corporation and has said his takeover of Twitter was a step towards creating an everything app, “an accelerant to creating X, the everything app” – a reference to the X.com company he founded in 1999, a later version of which went on to become online payments giant PayPal.
In 2017, Musk hinted at his plans when he bought the X.com domain back from Paypal. Three months prior to buying Twitter, he was asked by a user “if he had considered creating his platform. “X.com,” was his reply.”
Linda Yaccarino, a former NBCUniversal marketing executive and the present CEO of the company, Tweeted,
“It’s an exceptionally rare thing – in life on 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.”
As the new journey commences, it encounters obstacles, with Musk revealing that the platform is grappling with negative cash flow attributed to a 50% decline in advertising revenue and significant debt burdens.
One thing to note here is that every social media platform has tried the same concept of in-stream payments through their platforms. Meta has been working on the same concept for years, but regulatory bodies have been the real hindrance.
Regulatory barriers and Western users’ disinterest in making payments within social apps are hurdles. Unlike Asian nations, Western governments lack the same transparency and control over simplified payments, making it difficult to replicate the success of platforms like WeChat.