Switching from Twitter to X, the new super app will provide users with multiple services and will effectively be WeChat of the West.
Twitter CEO Elon Musk has confirmed that the microblogging site will rebrand X at some point in the near future. Elon Musk answered With “True” to his tweet announcing the upcoming rebranding. According to the tweet, the new X platform will do more than just allow users to send short tweets. Users will be able to enjoy long-distance text messaging, messaging, video and various financial services.
Twitter Inc is now X
according to document Filed in a federal court in the state of California, Twitter Inc. The name has been discontinued. The filing confirms that Twitter is now part of X, which is part of a parent holding company. Document text:
“…Twitter, Inc. was merged into X Corp and no longer exists. X Corp. is a privately held company. The parent company is X Holdings Corp. No publicly traded company owns 10% or more of X Corp. or X shares Holdings Corp.”
The latest confirmation is not the first time Musk has referred to the X app. In October last year, Musk chirp that buying Twitter would speed up the creation of the “X, the everything app”. Although there are no official details of the X interface, Musk has said enough to create a working image.
X: WeChat from the West
X would be a great app – one that consolidates many seemingly unrelated services into one place. In his first city council meeting with Twitter employees last year, Musk said he wanted X to be a great app like WeChat. According to him:
“There is no WeChat equivalent outside of China… there is a real opportunity to create that.”
Owned by Tencent Holdings Ltd (HKG: 0700), WeChat is a cool app that started as an instant messaging app for smartphones in 2011. Over the years, it has expanded its offering so that users can do everything from buying groceries to scheduling doctors. assignments. To date, there is no app anywhere in the West that performs as a sufficient competition.
Speaking in March, Musk told Morgan Stanley managing director Michael Grimes that he had lofty plans for X. He specifically said X could “become the world’s largest financial institution,” where users could send money “effortlessly with a single click.” .
As of March, WeChat has more than 1.3 billion monthly active users (MAU) is expected to reach 1.671 billion this year. In January 2019, the platform recorded 45 billion daily messages. In July 2021, a quarter of all users Spent more than 4 hours on the app every day.
According to experts, Musk’s super-application goal will face serious challenges. Analysts speak to CNN He said competition is fierce because other giants like TikTok, Facebook, WhatsApp, and YouTube are all trying to become great apps. In addition to competition, they also noted that regulation would make it difficult for the authorities to allow the kind of monopoly X would have if he succeeded.
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Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify cryptocurrency stories down to the bare essentials so that anyone anywhere can understand without much background knowledge. When he’s not deep into cryptocurrency stories, Tolo enjoys music, loves to sing, and is a movie lover.