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- 1 Elon Musk, the owner of Tesla, has confirmed that his platform ‘X’ will soon have its in-house email service providing platform.
- 2 News of the email service by ‘X’ got people speculating about competition between Google’s Gmail.
- 3 On April 1, 2004, Gmail came into existence. Gmail was developed by Paul Buchheit, a lead Google developer.
Tesla’s owner Elon Musk has most recently announced that his platform’ X,’ (formerly Twitter), will soon launch Xmail, which will compete with Gmail. Speculation of competition between the two email service providers is increasing.
A user on X asked Musk if he is planning for a substitute for Gmail, and the owner of ‘X’ said yes, and that it is coming soon.
Per Forbes, Musk is the second richest man in the world. Last year, he was on top of the list of the wealthiest people on Earth. A slight decline in his net worth has been observed since. He has a net worth of $207.5 Billion. Most of his income is from Tesla, SpaceX, ‘X,’ and Neuralink.
Gmail is Google’s email service provider, one of the biggest and most used. The platform has over 1 Billion users globally. Alphabet Inc. owns Google and associated products, including Gmail, Google Drive, Google Photos, Google Documents, Google Search Engine, and more.
On April 1, 2004, Gmail came into existence. It was developed by Paul Buchheit, a lead Google developer. Gmail was a revolutionary product. As of writing, Google has over 278 products
In the past couple of years, Gmail has gained significant exposure and is the most used email service provider globally. It offers a variety of advanced features and is largely popular due to its ease of use and access. Earlier this year, the email service provider made substantial updates in Gmail’s storage systems.
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Following the confirmation of Elon Musk over the launch of Xmail, several rumors in the market claimed that Google was shutting down its Gmail services. Over the rumors, Google clarified that there is no plan to shut down any of its services, and the circulated claims are false.
No decline in Alphabet Inc. Class C stock has been seen in the past 24 hours, although it lost 2.26% of its trading price in the monthly time frame. Since Musk has taken over the ‘X,’ the platform has shifted focus and reshaped policies set by the previous management.
Another rumor that was circulating is that ‘X’ is planning to enter the fintech sector by launching a payment facilitator platform soon.
Why Gmail Might Get Affected After Xmail Launch?
Defeating Gmail in the email service-providing market is quite challenging but possible. If Xmail offers better features than Gmail, it could certainly see an increase in adoption. Notably, Google outshined competitors within a few years of its entry into a market that was not highly competitive.
Musk is an influential personality, and most of the time, the market surges or declines due to his statements. Analysts argue that Musk holds a significant amount of Dogecoin (DOGE) and a few other cryptocurrencies in his wallet.
DOGE is among the most popular meme coins in the crypto community. It is 11th in the crypto market in terms of market capitalization as per CoinMarketCap.
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.
