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The business magnate Elon Musk initiated an acquisition of American social media company Twitter, Inc. on April 14, 2022, and concluded it on October 27, 2022. Musk had begun buying shares of the company in January 2022, becoming its largest shareholder by April with a 9.1 percent ownership stake.
On July 23, 2023, Musk announced X's launch, which would replace Twitter, which started when the X.com domain (formerly associated with PayPal) began redirecting to Twitter; [3] the logo was changed from the bird to the X the next day, [37] and the platform's official main and associated accounts also began using the letter X within their handles. [38]
Twitter, officially known as X since 2023, is a social networking service.It is one of the world's largest social media platforms and one of the most-visited websites. [4] [5] Users can share short text messages, images, and videos in short posts commonly known as "tweets" (officially "posts") and like other users' content. [6]
AOL Advertising provides advertisers, agencies and publishers with the most powerful, comprehensive and efficient online advertising tools available anywhere.
On October 28, 2022, after much speculation, he purchased social media platform for $44 billion. According to Bloomberg, he not only overpaid for the company but lost $10 billion in the process.
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