Elon's made some serious moves since acquiring Twitter, but now he's changed the company's logo into an X.
👉 Background: Since Elon Musk acquired Twitter for $44 billion USD in October last year, he's made some serious moves:
👉 What happened: Now, Elon's changed the Twitter blue-bird logo into an X. The bird has already been stripped from the Twitter HQ, and meeting rooms in the Twitter office are now renamed to words with X in them (think: 'eXposure' and 's3Xy').
👉 What else: The shift to X is one step closer to creating his X app, which is planned to be an 'everything' app. But all of these new initiatives push Twitter one step further away from the brand that he actually acquired for $44 billion.
💡Building brand equity can take decades to build... but it can be lost in seconds. According to Brand Finance, Twitter's brand value is estimated between $4 billion - $20 billion, which was wiped out in one foul swoop.
💡It's starting to look like Musk wants to stop everyone comparing Twitter pre-takeover and post-takeover, and just take Twitter's user base into a different direction.
💡Many experts believe there is a HUGE execution risk in this play... particularly with a relatively skeleton workforce right now.
Sign up for Flux and join 100,000 members of the Flux family
