Elon Musk, CEO Linda Yaccarino say Twitter to be renamed X, enter payments, banking, commerce
Elon Musk and the chief executive he brought aboard just a month ago say the social media network will ditch the bird logo, rebrand the platform with the name X and move quickly into payments, banking and commerce. «Powered by AI, X will connect us in ways we're just beginning to imagine,» Twitter chief executive Linda Yaccarino tweeted Sunday afternoon. Late Saturday night, Musk indicated he plans to jettison Twitter's blue cartoon bird logo.
«Soon we shall bid adieu to the twitter brand and, gradually, all the birds,» he tweeted around midnight, implying an end to the imagery from where the very word «tweet» stems. «Like this but X,» the billionaire SpaceX boss said, above a picture of the Twitter bird over a black and white marbled background. Yaccarino, an advertising sales executive at NBCUniversal whom Musk poached last month to become Twitter's CEO, said the social media platform is on the cusp of broadening its scope.
«X is the future state of unlimited interactivity — centered in audio, video, messaging, payments/banking — creating a global marketplace for ideas, goods, services, and opportunities,» Yaccarino tweeted. «There's absolutely no limit to this transformation. X will be the platform that can deliver, well… everything,» she said.
Since Musk bought Twitter for $44 billion last October, the platform's advertising business has partially collapsed as marketers soured on the mass firings at the platform that gutted content moderation as well as on Musk's management style. In response, the tycoon has moved toward introducing payments and commerce through the platform in a search for new revenue. Twitter, founded in 2006 and whose name is a play on the sound of birds chattering, has used avian branding since
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