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Musk has replaced Twitter’s blue bird with an X logo. (Photo by ALAIN JOCARD/AFP via Getty Images)
Elon Musk has explained the rebranding of Twitter as X.com, as he seeks to expand the social-media network beyond its microblogging roots. His goal is to make X a finance hub as well as a messaging platform.
“In the months to come, we will add comprehensive communications and the ability to conduct your entire financial world. The Twitter name does not make sense in that context,” Musk tweeted on Monday.
The
Tesla
(ticker: TSLA) CEO hasn’t yet said what verb should replace tweeting, and for now users are still invited to post Tweets. However, an X logo has replaced the blue bird which symbolized Twitter.
The planned expansion of X into a one-stop-shop mobile app along the lines of Chinese superapps such as
WeChat
comes as the microblogging space gets increasingly crowded.
Meta Platforms
’ (META) Threads has brought a new challenge to the sector while video-sharing platform TikTok –owned by China’s ByteDance– said Monday that it would also offer text-only posts.
Write to Adam Clark at adam.clark@barrons.com