Twitter has rebranded as X as it discards its iconic bird logo. Elon Musk’s latest changes to the platform may surprise some, but they line up with just about everything he has said so far about its direction.
With his $44 billion deal to acquire Twitter, Tesla founder Elon Musk has expressed his desire to make the platform into a “super app” of sorts, similar to the one WeChat offers but with multiple functions in one place.
Last year in an All-In podcast, Elon Musk chatting with fellow tech big-wigs, said the Chinese app was “a good model” for what Twitter could become.
“If you’re in China, you live on WeChat; it does everything,” Musk said. “It’s like Twitter, plus PayPal, plus a bunch of other things. And all rolled into one.”
The Vision of an ‘Everything App’
Elon Musk stated that purchasing Twitter in October 2022 was an “accelerator” to establishing a super app similar to China’s WeChat, India’s PayTM, and Indonesia’s GoJek. These apps allow users to do more than simply create posts; they also let them send and receive payments, watch and listen to content, and even access services such as booking cabs or ordering food delivery.
Preparing for the Future: X as a Payments Business
According to recent reports, X is already taking considerable moves toward becoming a payment-oriented business. Elon Musk allegedly obtained money-transmitting licenses in three US states earlier this month, suggesting it is already planning to become a payments market.
Linda Yaccarino’s Insights
Linda Yaccarino, CEO of X (formerly Twitter), revealed further information regarding the company’s transformation. Yaccarino emphasized that X’s future would be defined by limitless interactivity, with a special emphasis on audio, video, messaging, and financial services. X’s aim is to build a global marketplace that uses AI technology to link people all over the world in innovative ways.
Elon Musk stated that when he hired Twitter’s new CEO Linda Yaccarino in May of this year, she would help “transform this platform into X, the everything app.”
Linda Yaccarino, Twitter’s CEO, provided more details about the new X app, tweeting on Sunday that the rebranding was part of the company’s goals to “transform the global town square” beyond a social network.
It’s an exceptionally rare thing – in life or in 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.
— Linda Yaccarino (@lindayacc) July 23, 2023
“X is the future state of unlimited interactivity – centred in audio, video, messaging, payments/banking – creating a global marketplace for ideas, goods, services, and opportunities. Powered by AI, X will connect us all in ways we’re just beginning to imagine,” Linda tweeted.
The Journey to X
Over the last eight months, X has progressively evolved, with quick feature deployments. However, specifics on the timing for making the adjustments have yet to be revealed.
The Long-Awaited X.com Domain
Elon Musk has owned the X.com domain since 2000 when he was associated with PayPal. The website initially displayed simply the letter ‘X,’ however with the Twitter rebranding, it now redirects to Twitter.com
Our headquarters tonight pic.twitter.com/GO6yY8R7fO
— Elon Musk (@elonmusk) July 24, 2023
Challenges Ahead: Can X Succeed?
Twitter changed its name to X Corp earlier this year to fit with Mr Musk’s “everything app” goal, although social media experts have questioned whether such a concept could ever operate outside of Asia.
Outside of Asia, social media experts have raised concerns about Musk’s vision. Super apps have been a huge success in Asian countries, but their popularity in other places is still up in the air. Various industry analysts have voiced varied views on X’s chances of success, emphasizing the need for practical execution and overcoming commitment challenges.
“I’ll believe it when I see it,” industry analyst Matt Navarra said of Mr Musk’s takeover.
“Super apps, as they are known in the industry, are not a new thing. They’ve been hugely successful in Asia, but have not really caught on elsewhere. Could Twitter form part of a super app that lets you buy goods, chat to friends, get news updates, book a taxi etc.? Sure. Can Elon Musk make it work? Possibly. Will Elon actually do it? Who knows. He seems to have commitment issues.”
Others have expressed worry that removing the Twitter brand along with the bird logo could further damage the platform’s reputation, which has come under scrutiny since Mr. Musk’s takeover last year.
The decision to abandon the Twitter brand and its iconic bird logo has sparked controversy. Experts fear that Musk’s audacious approach might jeopardize Twitter’s nearly fifteen years of brand awareness and cultural relevance.
The brand change and super-app aren’t the only changes Musk has been hinting at since the transaction was announced. The billionaire has offered many suggestions, including reducing spam, raising premium users, and introducing payment mechanisms (perhaps even in Dogecoin).
FAQs About Elon Musk’s ‘Everything App’ X
X is the new name for what was previously known as Twitter. X, on the other hand, is not just a rebranded version of Twitter; it aspires to be an all-encompassing “everything app” that offers features other than social networking.
Elon Musk’s vision for X is influenced by popular applications such as WeChat and PayTM, but its success outside of Asia remains dubious. The universal adoption of such an idea comes with difficulties.
X will emphasize limitless interactivity by providing audio, video, messaging, and financial services. It intends to build an AI-powered marketplace for ideas, commodities, services, and opportunities.
By offering seamless access to multimedia material, financial transactions, and other services like ride-hailing and food delivery, Twitter X seeks to meet a wide variety of customer demands.
X risks destroying years of brand familiarity and cultural importance by forsaking the Twitter brand and logo. Furthermore, its success will be greatly dependent on how successfully it adapts to global markets and solves industry experts’ worries.
