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- 1 Elon Musk, the owner of Twitter, recently rebranded the app to “X”.
- 2 Musk plans on making Twitter the “everything app”.
- 3 Reportedly, Musk also owns PayPal which was formerly named “X.com”.
Elon Musk becomes synonymous with, if not more but equal to, ‘something great’. The steps the American centibillionaire and business magnate takes, corporate or non-corporate, are enough to make headlines. The social media platforms get filled with discussions around him.
It all happened when Musk bought the social media platform, Twitter. A large section of Twitter was filled with the news of the new owner of Twitter.
The instance of spending a whopping $44 Billion to buy a popular microblogging site is not the center of discussion anymore. Since then, there is no Twitter anymore—it is now “X”.
Probably, a corporate move towards expansion of business goal or certainly a billionaire’s frenzy to play with his expensive toy, people have a variety of ideas of what the instance signifies.
Though Musk’s intentions for turning Twitter into ‘the everything app’ were not hidden, rebranding to X was a sheer surprise.
Elon Musk holds the ownership of, and top positions in, some of the leading companies in the world. His links with the twenty-fourth letter in the English alphabet are not unknown. However, this time, it is taking the place of an existing famed and iconic brand.
The record connection between Musk and X dates back to 24 years ago. In 1999, he founded the financial services company and named it X.com. Later, it was renamed PayPal, a well-known name in the payment transfer sector around the world.
WSJ reports that the founder wanted to keep X.com but most of the company people did not agree with him. He even tried to rename it as X-PayPal but it did not work out and he had to lose the X mark.
X.com might have retained somewhere in the bottom of Musk’s mind and it reincarnated as soon as it got the chance. Now the URL lands on the official page of social media platform X, former Twitter.
That was not the end of it. The matters with PayPal came to an end but not X.com. The Twitter owner turned the tables and now the URL lands on the social media platform’s page.
As soon as the iconic platform gets rebranded as X, it was projected as a step towards making it an everything app, like WeChat in China.
However, what people noticed is Musk’s obsession with the letter X. He had this letter in the name of his Space exploration company, SpaceX. His recently founded artificial intelligence (AI) company named xAI. Even his 2020-born child was named X Æ A-Xii.
Only a few companies turn out to be successful enough to be treated as a verb. Twitter (tweet) has held this position for all these years. People are concerned that the popularity of the platform would “bid adieu” as the legendary “Larry the bird” flew.
The platform had already lost almost a third of its value from $44 Billion to just $15 Billion. Yet, given the history of Elon Musk, it will be interesting to see how the story with Twitter turning X will unfold, and bring unimaginable reality.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
