Has my stock been accused of fraud?Join over 160k users who know.

Ticker Price Change($) Change(%) Shares Volume Prev Close Open Gain($) Gain(%)
Ticker Status Jurisdiction Filing Date CP Start CP End CP Loss Deadline
Ticker Case Name Status CP Start CP End Deadline Settlement Amt
Ticker Name Date Analyst Firm Up/Down Target ($) Rating Change Rating Current


'Formerly Twitter' Fiasco: Musk's X Faces Identity Crisis On Apple's App Store

Author: Nabaparna Bhattacharya | September 23, 2023 04:02pm

Elon Musk's decision to rename Twitter as "X" has led to unforeseen challenges, including a significant drop in app downloads, according to a note by Business Insider. 

Musk, the CEO of Tesla Inc., phased out Twitter's iconic bird logo in July. Following the rebranding, a decline in downloads prompted a change in the app's description on Apple Inc.'s App Store to "Formerly Twitter," replacing the initial tagline "Blaze your glory," according to Business Insider.

From 'Twitter' To 'X' - Why Was The Rebranding Done?

recent biography of Musk by Walter Isaacson revealed that Musk developed an aversion to the Twitter bird logo after acquiring the company, expressing a desire to remove "all these damn birds."

However, the decision was not merely a superficial makeover but a strategic step toward realizing his vision for the platform

While explaining the rationale, Musk stated that the name "Twitter" had initially made perfect sense when the platform was limited to brief 140-character messages, resembling the sounds of birds tweeting back and forth. 

However, with the platform now capable of accommodating a wide array of content, including lengthy videos and multimedia, the name no longer seemed to him to resonate with its evolved purpose.

Rebranding Impact

The rebranding has not been well-received. The decision faced backlash from ex-Twitter staff, with one likening it to "corporate seppuku," equating it to ritual suicide.

According to Business Insider, media strategist Eric Seufert noted a drop in the app's ranking from 35th- to 54th-most downloaded. Users have expressed confusion, with some likening the new logo to that of an adult content site. 

Marketing experts have criticized the move as "utterly senseless," warning of a potential valuation drop by billions.

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo: Shutterstock