BackRebranding Twitter to ‘X’: Is it a step towards Elon Musk's everything app?
Billionaire Elon Musk rebrands Twitter to 'X' and plans to create an everything app similar to WeChat, offering various services within one platform.
PremiumBillionaire Elon Musk has rebranded Twitter to 'X,' replacing the iconic blue bird logo. Twitter CEO Linda Yaccarino confirms the change, stating that 'X' will build on Twitter's impact and transform global communication further.
Even though it seems like a new development, it is probably not! Elon Musk had hinted about it during the $44 billion takeover bid. Noting that it was not a simple takeover plan, the Tesla boss claimed that he visions something even grander for Twitter and that is creating X - an “everything app" that does whatever you need.
And, on October 5, 2022, he tweeted, “Buying Twitter is an accelerant to creating X, the everything app."
What is X- the everything app?
The "super app" or "everything app" concept, popular in Asia, has inspired global tech companies. It offers a suite of services like messaging, social networking, peer-to-peer payments, and e-commerce shopping within a single platform, creating a one-stop-shop for users' needs.
For example,China's WeChat, which has over 1 billion monthly users, is a ubiquitous part of daily life in the country. Users can hail a car or taxi, send money to friends and family or make payments at stores. Similarly, Grab, a leading super app across Southeast Asia, offers food delivery, ride-hailing, on-demand package delivery and financial services and investing.
Confirming that now ‘X’ will also function on the similar lines, Yaccarino tweeted saying, “X is the future state of unlimited interactivity – centered in audio, video, messaging, payments/banking – creating a global marketplace for ideas, goods, services, and opportunities. Powered by AI, X will connect us all in ways we’re just beginning to imagine."
Meanwhile, sharing his view about X.com, author Walter Isaacson posted an except from his upcoming biography on Musk, that says, “His concept for X.com was grand. It would be a one-stop everything-store for all financial needs: banking, digital purchases, checking, credit cards, investments, and loans. Transactions would be handled instantly, with no waiting for payments to clear. His insight was that money is simply an entry into a database, and he wanted to devise a way that all transactions were securely recorded in real-time."
Earlier, Musk had stated that there is no equivalent to a super app like WeChat outside of Asia. "You basically live on WeChat in China," he said, adding he saw an opportunity to create such an app.
What ‘X’ is so close to Musk's heart?
Elon Musk has a deep affinity for the letter X, which became evident when he co-founded X.com in 1999, an online bank that later merged with Confinity. After the merger, the company was renamed PayPal, with Peter Thiel assuming the CEO role.
Despite leaving PayPal, Musk's fascination with X persisted, leading him to refer to his first child with Claire Boucher (Grimes) as "X."
Later in 2017, he purchased the domain X.com, showcasing his enduring connection to the letter that played a significant role in his entrepreneurial journey.
Apart from that, he is the founder and CEO of the rocket company SpaceX, formally known as Space Exploration Technologies Corporation. Tesla’s third model, launched in 2015, is called Model X.
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