New York CNN
Elon Musk, Twitter's owner, has started the process of replacing Twitter’s iconic bird with X.
Musk announced his plans in a shocking way early on Sunday morning. He tweeted on Monday morning, US time that X.com points to Twitter.com.
He wrote: 'Interim X Logo goes Live Later Today', just before posting a picture of Twitter's HQ lit up with a giant new X.
Even though the blue bird is still visible on the site, the official account of the social media giant now has the same logo.
He had previously said that he would 'adieu the Twitter brand and, slowly, all of the birds'.
Twitter (TWTR), which was founded in 2006, uses its vibrant, internationally recognized blue bird logo for more than 10 years.
Musk has warned repeatedly in recent months that Twitter was nearing bankruptcy due to steep losses in advertising revenue.
In an effort to increase the pressure, Meta (parent company of Facebook) launched Threads earlier this month. In its first week, it had more than 100 million signups.
Twitter had 238 millions active users before being taken over by Musk in October 2020.
Mass layoffs and spats
Musk, one of the richest men in the world, was once known for his innovative efforts to build electric cars and launch rockets through SpaceX (TSLA).
He is now a frequent headline maker for his eccentric tweets, where he shares conspiracy theories and engages in public spats.
Musk acquired the site for $44 billion late in October. Then, he overhauled it, followed by mass layoffs and disputes over millions in severance allegedly due. Musk also sent a note to his employees warning them that staying at the company meant 'working many hours with high intensity. Musk wrote that only exceptional performance would be considered a passing grade.
The Anti-Defamation League (ADL), Free Press, and GLAAD were among the organizations that urged brands to reconsider their Twitter advertising.
The groups cited the mass layoffs in their reasoning, citing concerns that Musk's reductions would render Twitter's policies on election integrity effectively unenforceable even if technically they remain active.
Musk began to oversee controversial policy changes that led to frequent service interruptions at Twitter, and ruined his reputation.
"A Second Chance"
Musk appointed Linda Yaccarino as CEO of the firm in June. She was a former NBCUniversal Marketing Executive.
She said on Twitter on Sunday afternoon that it's a rare opportunity to make a big impression again in life or business. Twitter has changed the way people communicate. X is now going to go even further and transform the global town square.
The new venture faces many challenges as it begins. Musk revealed recently that the platform has a negative net cash flow because of a 50% decline in advertising revenues and heavy debt load.
Musk, who has criticized the departure, or pause of Twitter advertisers such as General Mills, Macy's, and some car manufacturers that compete with Tesla called himself a "free speech absoluteist" and said he wished to purchase Twitter in order to boost users' freedom to speak on the platform.
Musk's approach to freedom of speech was best explained by asking: "Is it okay for someone you dislike to say things you find offensive?" If that's the case, we have freedom of speech.
He said that Twitter will 'be reluctant to delete anything' and the platform will aim to allow any legal speech. Many users are concerned that this could lead to an increase in hate speech.
The initial hype around Threads, a rival service, has cooled down, mainly because it is plagued by spam and does not offer many of the user-friendly features that Twitter or X offers.
Adam Mosseri who oversees the Threads launch at Meta has hinted that plans are in place to add features like a desktop app, a feed of accounts the user only follows, and an edit button.
As yet, it is not known if the company can attract advertising support.