With entrepreneur Elon Musk’s acquisition of the renowned social media platform Twitter and its transformation into the X platform, the digital landscape of social media witnessed a notable shift. This change raised concerns about X’s ability to succeed in this challenging transition. What is the story behind transforming Twitter into the X platform, and what are the effects of this experiment on Twitter’s audience?
Elon Musk initiated the acquisition process of the American social media company Twitter on August 14, 2022, and completed the deal, taking full ownership of the company, on October 27 of the same year. The acquisition cost Musk $44 billion, leading to the dismissal of Twitter officials and employees. He also changed the platform’s name from “Twitter” to “X,” announcing this change on July 23, 2023.
Following this, Musk redesigned the old trademark, the “blue bird,” into the shape of the letter “X” in black and white. He stated that the reason for choosing this symbol is to make the application “an app for everything.”
Some speculate that Musk’s plan to transform Twitter indicates his desire to have a social media platform similar to the Chinese platform “WeChat.” WeChat is a social platform specializing in posts, voice calls, and payment services, among other features.
Musk compared the Chinese platform to an integrated platform, stating that it does everything. He believes that by transforming Twitter into an integrated platform, X can increase Twitter’s user base from 200 million to a billion users.
Musk considers the creation of a platform or integrated application in the United States challenging due to the fierce competition among various applications. However, X might accelerate Twitter’s growth by about 3 to 5 years.
There are several previous facts related to Elon Musk’s career that indicate his strong connection to this letter for a long time and his belief in the success it holds.
In 1999, Musk participated in founding an online bank named the domain “X.com.” After a merger with another company called Confinity, the bank was renamed “PayPal.”
After a short period, Musk regained the domain name “X.com” and mentioned that it means a lot to him, in 2017.
In 2022, Musk founded the space technology development company “SpaceX,” achieving many successes, notably reducing the cost of space access through the development of reusable rocket technology.
In 2015, Musk launched the electric car manufacturing company “Tesla.” Following its remarkable success, he introduced the “Model X” titled “Tesla Motors X,” an electric car with advanced technological features.
In 2022, Musk established three holding companies named “X Holdings.”
Indeed, Musk’s relationship with the letter “X” is not fleeting but a longstanding connection intertwined with most, if not all, of his endeavors.
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