Twitter’s Future Plans and Rebranding as X
In a company-wide memo obtained by CNBC, Twitter’s newly established CEO Linda Yaccarino shares the company’s success and future plans for the rebranded platform known as X. Yaccarino claims that the service’s usage is at an “all time high” without providing specific metrics. She also hints at new product experiences to come.
The social network formerly known as Twitter has been working towards becoming more than just a social network and aiming to become an “everything app” according to owner Elon Musk.
In October 2022, Musk announced his intention of buying Twitter to create X – an everything app. His plan was to create an app that would allow creators to monetize their content, and eventually expand into payments services and even banking.
New Product Experiences and Global Marketplace
In Yaccarino’s memo, she references the possibility of new experiences in audio, video, messaging, payments, and banking. The goal is to create a global marketplace for ideas, goods, services, and opportunities.
X’s Implementation of Musk’s Ideas
X has already implemented some of Musk’s ideas including allowing subscribers to upload two-hour videos and sharing ad revenue with verified creators.
Challenges Faced by X
However, third-party measurements have shown a decline in traffic for X. There are concerns about competition from Instagram Threads, which led to a decline in web traffic for X. Critics are also predicting that X will either shut down or be acquired within the next year.
X’s Transformation and Innovation
In her memo, Yaccarino applauds X’s team for their work and highlights the company’s ability to impress the world once again. She emphasizes that X is constantly innovating and transforming to fulfill its great potential.
Building X Together
Yaccarino concludes by inviting everyone to join in building X and reminds the team of the importance of this moment in history.
“Please don’t take this moment for granted. You’re writing history, and there’s no limit to our transformation. And everyone is invited to build X with us.”
– Linda Yaccarino
If you have any thoughts on X or would like to reach out to Sarah Perez, contact her via email (sarahp@techcrunch.com) or Signal (415.234.3994).
