X: Twitter finally replaced its notable bird with ‘X’ as its new official logo marking the latest major shift since Elon Musk’s takeover of the social media platform.
Elon Musk announced that the Twitter’s name would be changed to ‘X’ and there would be no use of bird logo and all the associated words like tweet.
Musk’s step wiped out anywhere between $4billion and $20billion in value, according to experts and analysts.
Director of brand communication at Siegel & Gale, Steve Susi said, “It took 15-plus years to earn that much equity worldwide, so losing Twitter as a brand name is a significant financial hit”.
Musk purchased it $44 billion in October and since his purchase the company has registered a decline in value. A new black X logo which is designed by fans over the weekend began to appear across the site from the Monday. New Chief Executive Officer Linda Yaccarino outlined the company’s vision for X to become a site for audio, video, messaging, payments and banking.
Musk dropped a cryptic tweet, hinting at a potential new social media platform ‘X.com’ while responding to a question from one of his followers. On Tuesday, a social media user asked the billionaire tech tycoon whether he had given any thought to creating his own social platform.
Musk noticed the question on Twitter and responded by just writing “X.com”.
It is noted that last week the Tesla owner talked about the website during Tesla’s annual shareholder meeting last week as well.
“I do sort of have a grander vision for what I thought X Corporation could have been back in the day. It’s a pretty grand vision and of course that could be started from scratch but I think Twitter would accelerate that by three to five years,” Musk had reportedly said.
The tweet comes at a time when Musk is involved in a high-stakes legal battle with Twitter.
