Elon Musk to rename Twitter to X and phase out Blue Bird branding. The social media owner tweeted the news over the weekend, prompting a whirlwind of speculation, but newly appointed CEO Linda Yaccarino revealed that X will be “the future state of unlimited interactivity – all about audio, video, messaging, payments/banking”. The revised platform will be “powered by artificial intelligence,” the executive added.
I’m not sure what subtle hints have given way, but I like the letter X pic.twitter.com/nwB2tEfLr8
— Elon Musk (@elonmusk) July 23, 2023
A late Saturday night post said, “soon we’ll be saying goodbye to the Twitter brand and, gradually, to all the birds.” The x.com domain already redirects to twitter.com and it’s a matter of hours before everything goes live. Company executives have already confirmed that Twitter Inc. has been renamed X Corp. in the state of Nevada, headquartered in San Francisco, which is part of the state of California.
The changes on Twitter have been constant since Musk took over after a $44 billion deal. The owner has fired executives, dismantled its board of directors and reduced its workforce from nearly 8,000 employees to just 1,500. These moves, combined with Musk’s controversial views on free speech, resulted in a dramatic decline in advertising revenue.
It’s an exceptionally rare thing, in life or business, to get a second chance to make another great impression. Twitter has made a big impression and changed the way we communicate. Now, X will go further, transforming the global town square.
— Linda Yaccarino (@lindayacc) July 23, 2023
Currently, the soon to be rebranded platform is still down 50% in cash flow. One attempt to get money back on the table was to introduce Twitter Blue, which let everyone pay $8 a month for a nifty blue checkmark that says “Verified” and offers more features, including editing tweets, a longer character limit, and income from ad revenue.
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