Elon Musk recently outlined the reasons for his decision to rename Twitter to X and stressed that there are more significant changes involved. Rather, it stands for his intentions to develop a "everything app."
"X Corp bought Twitter in order to protect free speech and as a boost for X, the everything app. This company isn't only changing its name; it's also doing the same thing.
The name Twitter made sense when you could just send back and forth 140 character messages, like birds tweeting, but these days you can post nearly anything, including hours and hours of video.
The platform's rebranding now only involves a name change; no new functionality have been added, adhering to Musk's ostensible favored product model of building buzz first and delivering features considerably later.
In April, Musk renamed the business X Corp. from Twitter Inc.
Other significant changes at Twitter, like as new leadership, employment layoffs, and the search for new revenue streams, have also been pledged by Mr. Musk. Twitter, a San Francisco-based company with over 7,500 employees, has struggled to continuously grow its advertising-based business and draw in new users. The fact that the top business executives were fired on Thursday was a signal that Mr. Musk intended to act quickly.
Our goal is to make this the best platform for creators around the world! https://t.co/hezPrYWmOp
— Elon Musk (@elonmusk) August 11, 2023