Elon Musk is reshaping the popular social media platform Twitter into an all-encompassing application called ‘X.’ After initiating the name change and outlining his vision, outlets across the spectrum are analyzing the decision from a business and legal standpoint. that he bought the platform last year to use it “as an accelerant for X, the everything app. This is not simply a company renaming itself, but doing the same thing.
”cited “analysts and brand agencies” to determine the name change could cost the company between “$4 billion and $20 billion” in brand value. The article states that it’s rare for a company owner to “intentionally destroy” brand recognition. In the piece, Todd Irwin, founder of the brand agency Fazer, called Twitter one of the most recognizable social media brands, but added that Musk’s “personal brand might be more powerful than the Twitter brand.
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