Twitter Inc owner Elon Musk on Sunday signaled he would do more to take the social media company in a new direction with a rebranding that will replace its well-known blue bird logo with an X after acknowledging advertisers have been slow to return.
Reuters reports the change, which was not evident on the website on Sunday evening, followed Musk's recent admission that advertising revenue remains nearly half of what it once was. And Twitter's cash flow has been negative as a result of that and its heavy debt load.
X is here! Let’s do this. pic.twitter.com/1VqEPlLchj
— Linda Yaccarino (@lindayacc) July 24, 2023
Mike Proulx, research director at Forrester, said on Sunday that the move would further alienate Twitter's original, and once fiercely loyal, user base.
"On the one hand, you can make the argument he would be getting rid of an iconic brand. On the other hand, he is signaling it is a new day for what was once Twitter and that the company is heading in a different direction with a different user base."
The billionaire Musk said in a Sunday post he wanted to change Twitter's logo and polled his millions of followers whether they would favor changing the site's color scheme from blue to black.
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