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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]
X, formerly Twitter, is now valued at $19 billion, based on the company's employee equity compensation plan.The privately-held company, owned by Elon Musk, is giving employees RSUs at a share ...
Yaccarino says advertisers are returning to the Elon Musk-owned platform.
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Twitter, Inc. was an American social media company based in San Francisco, California, which operated and was named for its flagship social media network prior to its rebrand as X. In addition to Twitter, the company previously operated the Vine short video app and Periscope livestreaming service.
Lauren Hirsch of The New York Times observed that Musk would face financial challenges in owning Twitter, including the company's difficulty in turning a profit. [362] Richard Waters of the Financial Times echoed Hirsch's sentiments, adding that it would difficult for Musk to allow the right amount of free speech on the platform. [ 363 ]
The X rebrand may have a harder journey, Withey said, due to it being an unusual case of a high equity brand — one that was a cultural force for well over a decade — being renamed overnight.
Elon Reeve Musk (/ ˈ iː l ɒ n m ʌ s k /; born June 28, 1971) is a businessman known for his key roles in the space company SpaceX and the automotive company Tesla, Inc. He is also known for his ownership of X Corp. (the company that operates the social media platform X, formerly Twitter), and his role in the founding of the Boring Company, xAI, Neuralink, and OpenAI.