Many lauded Twitter’s buyout by Elon Musk at a historic cost of $44 billion. However, the billionaire was unable to revamp the platform into his version of Twitter 2.0. The bump he faced was plummeting advertising revenue after the purchase and increasing costs. He executed many changes, including an $8 per month subscription.
Now, Elon Musk is facing heavy competition from his contemporary, Mark Zuckerberg, after he introduced Threads. The new social media platform gained several millions of users after it was launched earlier this month. Musk even accused him of cheating. Now, to tackle the new competition and try to revamp Twitter again, the Tesla owner has escalated the process of introducing X. What does the new face of Twitter entail?
Related: Twitter Is Now X.com, Elon Musk Redirects X To The Social Media Platform
Elon Musk-Owned X Will Introduce Payment And Other Services
Elon Musk’s ambitions know no limits! Musk’s plan to introduce an everything app has been in process even before he bought Twitter. In October 2022, he tweeted, “Buying Twitter is an accelerant to creating X, the everything app.”
Buying Twitter is an accelerant to creating X, the everything app
— Elon Musk (@elonmusk) October 4, 2022
This everything app idea originated in China, which had WeChat. Initially, it was a chatting platform, but later it introduced features like taxi services, payments, shopping, etc.
Linda Yaccarino, the newly appointed CEO of Twitter, which is now known as X, expressed excitement about the new venture. As per her, X is aiming at creating a global market that encapsulates ideas, goods, services, and opportunities.
In Case You Missed: Elon Musk Announces Twitter Logo Change, New Logo will Not Have Birds
The Billionaire Officially Rebrands Twitter As X
Along with the moniker, Elon Musk got rid of the iconic bird logo that gave Twitter its identity. As per The New York Times report, Twitter’s headquarters in San Francisco have changed the logos in several places. They have made changes in the cafeteria and conference room. However, the police authorities did not allow the workers to remove the seven-lettered logo outside the building. They deemed it “unauthorized work.”
Elon Musk has not brought about this sudden change, but he has revved up the process of transforming Twitter into X. In April 2023, Bloomberg confirmed that Musk’s Twitter is no longer an independent company as it merged with the firm X Corp. He also updated the stocks feature on Cashtags after partnering with eToro. There is also chatter about the infusion of AI technology with his ambitious X.AI.Corp company.
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