Twitter is now X | Fusion - WeRIndia

In an unusual move, corporate mogul Elon Musk shocked the world by announcing his plan to obliterate the popular Twitter brand.

This unexpected decision came as a surprise during a quiet summer weekend, leaving experts and brand agencies astounded.

Musk’s audacious decree involved changing Twitter’s product name to a mere letter “X” and eliminating the iconic bird logo, along with all associated words like “tweet.”

As a consequence, analysts and brand agencies estimate that this decision resulted in a massive loss of value for the company, ranging from $4 billion to a staggering $20 billion.

The Twitter brand had earned significant equity worldwide over a span of 15 years, making this shift a substantial financial hit.

Already facing a decline in value since Musk’s acquisition of the company for $44 billion in October, the sudden transformation stirred further uncertainty.

Within a remarkably short period, a new black “X” logo, created by a fan over the weekend, began replacing the familiar bird emblem across the platform.

New CEO Linda Yaccarino revealed the company’s vision for X to evolve into a multi-faceted platform, encompassing audio, video, payments, and banking services.

However, analysts and brand agencies deem this renaming as a mistake. Twitter’s brand is highly recognizable worldwide, adorned by bird decals on small businesses and websites alongside other social media giants like Instagram and Facebook.

Additionally, terms like tweet and retweet have become integral to modern culture, commonly used to describe how public figures communicate with their audience.

Rebuilding such a strong cultural and linguistic association from scratch will be a formidable task for the newly rebranded X.

Yet, some speculate that Musk’s intention might be to encourage users to disassociate the post-takeover Twitter from its past and view X with fresh eyes.

Yaccarino expressed this rare opportunity as a chance to make another significant impact.

In recent years, other tech companies have undertaken renaming endeavours. Google transformed into Alphabet Inc. to facilitate the growth of various businesses within the company.

Facebook’s rebranding to Meta Platforms Inc. emphasized its commitment to the metaverse. However, in both cases, the product names remained unchanged, unlike Twitter’s radical approach.

The perception of Twitter’s brand has evolved over time, leading to an exodus of advertisers.

Musk’s controversial behaviour and endorsement of content rule-breaking tweeters raised concerns among advertisers, resulting in over a 50% decline in advertising revenue since October, as acknowledged by Musk himself.

This bold move by Elon Musk has set Twitter on an unprecedented path, forcing the company to navigate uncharted territory.

Only time will tell if the gamble will pay off and lead to a renewed and successful identity for X in the competitive world of social media.

Image Credit: Twitter Website Screenshot

Image Reference: https://twitter.com/