<div class="block">Twitter&#39;s rebrand as &#39;X&#39; has begun after Elon Musk announced the planned change over the weekend. Cheddar News senior reporter Michelle Castillo talked about what the changes mean for the social media platform going forward.</div>

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Twitter Rebrands From Bird Logo to 'X'

All the birds are flying away, Hannah and it looks like X is gonna be here to stay. So around midnight on Sunday, Musk started tweeting about the death of Twitter and the rise of X saying and soon we shall be you to the Twitter brand and gradually all the birds. Now X dot com. Now redirects to Twitter dot com and the bird logo has been replaced by an X. If you go to Twitter, Musk also emailed employees according to the verge and confirmed the news saying that this would be the last email they received from him from a Twitter email address. Now, the logo was also probably displayed on the Twitter or should I say headquarters in San Francisco last night? Must joked online that the Twitter bird was being cut down from the building with blow torches. This is probably a nod to if you remember back in 2018 when he sold those boring company, fire flame throwers and sold out of those in minutes, 20,000 of them. So if you're curious about the difference between Twitter and X so far, it's just a simple rebrand. So Musk said when he acquired the company, he hopes it can become quote the everything app. So we're about to find out what that really means. Is Twitter still popular? I've been using threads. Do you think this rebrand will help Michelle? According to Insider intelligence, Twitter is rapidly declining in users. So last year, it made about 10% of all social media users, but it's expected to lose about 4% of its user base in 2023 compared to last year and then another 5% year after. So at 335.7 million users, that's less than snap had in the first quarter of this year. I also spoke to financial data company FX C Intelligence head of content Lucy Income who told me Mucus had visions of this idea of a super app under the X name since his paypal days, he had called uh a neo bank dot com. But to get in on that all in all in one app, he's gonna need the payments part of the equation. Now, interestingly enough, you might remember that I previously reported Twitter applied for a money transfer license in the US and was approved in several states starting in June. But it's going to be months or even years before Twitter can send and process money on scale. So, furthermore, for Twitter to be a successful financial platform, it's going to be the trust of users and when it's user based leaving, that's not great news. Twitter needs to build up loyalty with its users. Again, to be a success in any of its endeavors. So do you think competitors like threads can overtake it now that it's somewhat vulnerable? I think that's what companies are hoping they can capitalize on. So, threads has 23.6 million users as of last Friday per similar web data. But that's already down, it was about 49 million on July 7th. So it's already losing its allure and it hasn't released that many updates. But you want to keep an eye on Tik Tok, which might be a more worthy today, it added a text based option. So posts have a 1000 character limit and you can respond to them via stitching, dueting, commenting and harding. Similar to any other tiktok post in March. Tik Tok said it had 150 million users in the US and since it won't have to start from scratch and it's just adding text to its options. It could have a head start on taking down Twitter.