Twitter will be introducing its new logo for its rebranding to X, according to a tweet from owner Elon Musk on the Sunday.
According to Musk, the new logo for the company was due to be released by the end of the day, as well as removing previous Twitter branding such as the iconic bird logo. As of Monday, the only change has been to Musk’s own account’s profile picture, which is now a standard Unicode font X, and the domain X.com redirecting to Twitter.
According to court filings made in April, the company had already changed its name to X Corp. and informed partners to use the name in future official communication.
According to a Threads post from Pltaformer Editor Zoe Schiffer, an email was sent to employees about the change and that the message would be the last one he sent from a Twitter email address.
The rebrand is yet another in a long list of controversial changes Musk has made to the company since purchasing it in Oct. 2022. A tweet from Twitter Support on Friday confirmed the company would also begin to limit the daily number of direct messages unverified users could send.
The costs of Musk’s changes haven’t just generated public backlash, but have also impacted the company's bottom line. According to reporting from the New York Times, the company’s revenue from April 1 to the first week of May was down by 59% compared to last year. Additionally, Musk said in April the company was on track to earn $3 billion by the end of 2023, down from $4.4 billion in 2022 and $5.1 billion in 2021.
This loss in revenue can be partially traced to major advertisers like General Motors pausing their ad spending on the platform. The firing of key sales executives and unbanning of controversial figures on the platform has been cited as likely causes of this, as some are hesitant to continue advertisement until they see where the platform goes.
Musk has claimed the drop in ad revenue is due to activist groups pressuring advertisers in what he called an attempt to “destroy free speech.” Musk also threatened to “name and shame” those advertisers who had stopped spending money on the platform.
Musk re-acquired the domain for X.com in 2017 after purchasing it from PayPal. Musk had founded the original X.com in 1999 before merging it with competitor Conbase in 2000, with the new company changing its name to its current one in 2001.
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