Elon Musk, the world’s richest person and CEO of X, formerly known as Twitter, has announced on Friday that the monthly user count on the social media platform has recorded a “new high,” surpassing 540 million.
This is coming amidst a period of organizational changes and efforts to boost advertising revenue, which had experienced a decline in recent months. The surge in user figures is an encouraging sign for X, especially as Meta Platforms, the parent company of rival social media platform Threads, launched a direct competitor on July 5.
Following Musk’s $44 billion acquisition of Twitter in October, he merged the platform with his company X Corp, established in March, as a wholly owned subsidiary of X Holdings Corp. His vision for X has been likened to China’s popular messaging service WeChat, aiming to create an “everything app.” And to emphasize the shift, the microblogging platform Twitter is officially rebranded as X, with its iconic blue bird symbol replaced by the X symbol.
The latest announcement from Musk adds to a series of positive statements made by X’s executives regarding the platform’s increasing usage, despite the competition posed by Threads. To further demonstrate the transformation, a massive X sign has been installed atop the building that formerly housed Twitter headquarters in San Francisco.
As X continues to evolve under Musk’s leadership and capitalize on its growing user base, the company appears determined to cement its position as a dominant force in the social media landscape.
With the rebranding and organizational changes underway, all eyes are on X to see how it will navigate the competitive landscape and leverage its popularity to drive advertising revenue and innovative features for its vast user community.
Elon Musk’s Infatuation With Letter ‘X’ :
Elon Musk’s infatuation with the letter X is evident as he continues to make headlines with his ventures. From naming one of his children “X,” adorned with symbols and alphabets, to owning SpaceX, his fascination knows no bounds.
Musk co-founded x.com back in 1999, an online bank that later transformed into the renowned PayPal. In a nostalgic move, he bought the domain back from PayPal in 2017.
The influence of the letter X is now pervasive in Musk’s endeavors. Tesla’s famous electric car, the Model X, bears the mark, and Twitter has been rebranded as simply “X.” Even the domain x.com now redirects to Twitter, revealing Musk’s love for the enigmatic letter. With these changes, the billionaire entrepreneur appears determined to leave his X-shaped mark on the world.