Twitter launched its new brand on Monday, swapping the iconic blue bird on its website for an X.
According to Elon Musk, Twitter’s owner and CEO, this forms part of a larger brand transformation.
As of Monday morning, Twitter’s website already has a white X on a black background as this social media platform’s new trademark.
Musk said on Sunday that the social media platform will also include other services beyond social media interaction from now on. This includes payments and other banking services.
Although the platform’s URL still shows “twitter.com”, Musk plans to change it to “X.com” as soon as possible.
On Sunday night, he already changed his Twitter account biography to X.com, which now redirects to twitter.com.
The 52-year-old Tesla founder also changed his profile picture to the company’s new X branding, which he described as “minimalist art deco”.
Musk has already named Twitter’s parent company the X Corporation.
He founded the X.com company in 1999, a later version of which became the payments giant PayPal.
New income streams
Since Musk bought Twitter last October for $44 billion, the platform’s advertising business has partially collapsed. This is because marketers were angry about mass layoffs of top managers in the company, as well as about Musk’s management style.
In response, the SpaceX boss moved towards the introduction of payments and commerce through the platform in search of a new source of income.
Twitter is thought to have around 200 million daily active users, but it has suffered repeated technical glitches since Musk bought the platform and laid off many of its staff.
Since then, numerous users as well as advertisers have reacted negatively to the social media platform.
Musk said this month that Twitter has lost about half of its ad revenue since he took control in October.
— Elon Musk (@elonmusk) July 23, 2023
Our headquarters tonight pic.twitter.com/GO6yY8R7fO
— Elon Musk (@elonmusk) July 24, 2023