Billionaire Elon Musk, who is, among others, owner of Tesla, SpaceX and Twitter, announced further changes to the popular application. On Sunday, he published an entry on Twitter, where he informed the users of the platform about the planned name change. He added that the characteristic birds would gradually disappear from the popular messenger, and later posted a short video with a flickering “X” and updated the profile logo with a new one. Changes on the platform will also apply to the graphic design. Users will have to get used to the new color, because black will dominate the platform.
Elon Musk changes the Twitter logo. “Lights, Camera, Xi”
As indicated by , Musk may want a logo change after recently admitting Twitter ad revenue is almost half what it used to be. Forrester Research Director Mike Proulx believes such a move will further alienate Twitter’s original, once very loyal user base from the platform. At the same time, he notes, such a decision is a signal that the company is moving in a different direction and is reaching for a different group of Internet users. Twitter CEO Linda Yaccarino pointed out that Twitter has changed the way we communicate, while X will go further and change the market around the world. On Monday morning, Linda Yaccarino posted two entries: “X is here, let’s do it!” and “Lights, Camera, Xi”.
Twitter’s value has dropped significantly
When Elon Musk took over Twitter in 2022, he almost immediately fired more than half of his employees, citing “cost cutting”. Then he decided on a number of equally controversial steps, for example, introducing the possibility of verifying the account for money, or limiting the number of viewed tweets. In the meantime, many advertisers have turned their backs on Twitter. The Fidelity investment fund calculated that the current value of Twitter shares owned by the rich man – which since April belongs to the holding company X Holdings Corp created by Musk (previously to Twitter Inc.) – is only 33 percent. value before the purchase of the platform, i.e. approx. USD 15 billion. As he writes, the calculations were based on the decline in the value of shares held by the fund, which as of April 28 were worth $6.55 million. On the last day of January, however, the same package was still worth $7.8 million, and at the end of November last year it was worth $8.63 million. It is worth recalling that the billionaire paid as much as 44 billion dollars for the platform.
Source: Gazeta
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