00:00 Twitter users in India woke up to a mysterious tweet by Elon Musk on Sunday morning.
00:06 The billionaire asked people to prepare to say goodbye to the beloved Twitter logo and
00:10 gradually all the birds as the rebranding of the micro blogging was going to take place
00:15 soon.
00:16 Even though such a move came out of the blue, it surely wasn't expected as rumors of Musk
00:21 planning a full rebrand of Twitter had been floating on the internet for quite some time
00:25 now.
00:26 Twitter's rebranding into X has already begun and the social media site's official handle
00:31 has changed its display name to X.
00:33 The iconic bluebird logo in the profile picture has also been replaced by X and the handle's
00:38 bio has also been tweaked.
00:40 Within a few hours of Musk changing his profile picture to X, the entire Twitter feed has
00:47 been rebranded.
00:48 So officially, the bird is now out and X is in.
00:53 Earlier on Monday, Twitter CEO Leena Yakarina wrote, "X is the future state of unlimited
00:59 interactivity, centered in audio/video messaging, payments, banking, creating a global marketplace
01:04 for ideas, goods, services, and opportunities.
01:07 Powered by AI, X will connect us all in ways we are just beginning to imagine," she tweeted.
01:13 The new logo is just another change that Musk is making at Twitter and invariably it has
01:18 to be the biggest change since he took over the reins of the platform.
01:21 Musk bought Twitter in a $44 billion deal last year, after which he has overseen a massive
01:26 restructuring of the company, with all the senior executives moving out.
01:30 In April this year, a document submitted in a court in California hinted that Twitter
01:34 no longer exists as an independent entity.
01:37 The company had been merged into XCorp.
01:40 Twitter Inc. has been merged into XCorp and no longer exists.
01:43 XCorp is a privately held corporation incorporated in Nevada and with its principal place of
01:48 business in San Francisco, California, the document read.
01:52 The merger was submitted on March 15 and according to the filings, Musk is the president of the
01:56 company as well as of its parent, X Holding Corp, that was created in March as well.
02:02 The name X.com reportedly has a nostalgic connection for Musk.
02:05 As per an insider report, X.com was an online banking company that Musk had started back
02:10 in 1990.
02:11 The company was eventually merged with Confinity, a financial startup co-founded by Peter Thiel
02:16 to form PayPal.
02:17 Even though Musk was the CEO of the newly formed PayPal, he was fired by the board while
02:21 he was on a vacation in Australia.
02:23 Thiel became the new CEO.
02:25 A Forbes report had said that the reason behind Musk's firing was that he had started a huge
02:29 fight amongst the co-founders of PayPal over shifting their servers from the Unix operating
02:33 system to Microsoft's Windows.
02:36 Musk has time and again expressed his desire about creating an "everything app" — X — that
02:40 can emerge as a go-to app for various needs of the users.
02:43 Shortly after buying Twitter, he had written on the microblogging site, "Buying Twitter
02:47 is an accelerant to creating X, the everything app."
02:51 Tweeples can expect further changes to the app in the coming days.
02:59 (upbeat music)
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