Elon Musk’s X rebrand reignites his purpose to switch Twitter into an application like China’s WeChat

Elon Musk’s X rebrand reignites his purpose to switch Twitter into an application like China’s WeChat


In this picture illustration, Elon Musk’s photograph is displayed on a telephone display in entrance of a laptop display screen displaying the new emblem of ‘Twitter’.

Harun Ozalp | Anadolu Agency | Getty Photographs

When Elon Musk was in the procedure of acquiring Twitter last year, there was a large amount of discussion about his designs for the application.

In Oct, the billionaire said purchasing Twitter was an “accelerant to generating X, the everything app,” without having furnishing additional facts. But it did spark comparisons with China’s WeChat, the messaging company run by Chinese huge Tencent.

On Monday, Musk officially modified Twitter’s well known bird brand to an “X,” marking his thrust to adjust the platform into anything a lot more than just a social media support.

“In the months to appear, we will add complete communications and the means to conduct your total economic planet,” Musk reported late Monday, re-iterating that the acquisition took put to speed up the shift toward the “anything app.”

Freshly-appointed CEO of the organization Linda Yaccarino explained “X is the potential state of unrestricted interactivity – centered in audio, online video, messaging, payments/banking – creating a world wide marketplace for thoughts, goods, providers, and prospects.”

Elon Musk kills Twitter name for 'X' super app

These aims laid out by Musk and Yaccarino sound incredibly substantially like the plan of a “tremendous app” which was pioneered in China and has taken off in other areas of Asia.

Musk referred to as WeChat ‘great’

Will an ‘everything app’ get the job done exterior of Asia?

WeChat took off in China because of the exclusive world wide web landscape there, a person exactly where many American on the web providers these as Twitter and Google are blocked. This has specified a opportunity for homegrown know-how companies to create dominance in the online space.

What is a super app, and why haven't they gone global?

Tencent is 1 of these. With WeChat it operates the biggest messaging support in the nation. WeChat Pay out is one of the two biggest cellular payments services in China, the other being Alipay which is run by Ant Team, an affiliate of Chinese e-commerce giant Alibaba.

Alipay itself is also yet another tremendous app.

Tencent has managed to create an application this size simply because it operates its possess payments and social media service. But the enterprise has also invested in other important providers like e-commerce agency JD.com and and foodstuff delivery enterprise Meituan. This has authorized Tencent to integrate their companies into WeChat. Tencent is also one of the world’s major online gaming companies and that has presented it further content material to put in just WeChat.

Developers can also make so-known as “mini courses” within WeChat. These are stripped down versions of total applications but it indicates a person doesn’t have to download dozens of other applications and can just use WeChat for just about all the things.

In sections of southeast Asia, journey-hailing organization Get has expanded into money services and food stuff shipping and delivery, in the absence of a myriad of rivals.

Building a tremendous application in the U.S. or Europe may well be substantially more of a challenge. On line payments, an location Musk wants to drive into, are fragmented with no single organization dominating the room. U.S. and Europe however count greatly on debit and credit score card methods of payment. Payments in China are carried out with a brief response or QR code, which is various to the U.S. and Europe.

In experience-hailing and meals delivery, there is major competition. Naturally, Musk’s X will be a challenger to other social media corporations like all those beneath Meta’s umbrella. That could make collaboration with other firms rough.

These are just some of the challenges and that’s without the need of heading into places these kinds of as level of competition in promoting and who owns the facts in the celebration X collaborates with other firms.

But also there is an chance for X in that Musk sees it extra as a broader conversation app instead than just limited posts. He has dramatically improved the character restrictions for posts for men and women who subscribe to Twitter Blue, for case in point. That could be a setting up position, to flip Twitter into far more of a communication tool that keeps buyers hooked. Then Musk could feel about incorporating other instruments like payments that he has currently hinted at.

Finally however, hoping to transform X into something like WeChat is likely to be a mammoth task, not the very least mainly because the elements that has helped the Chinese app’s results — no matter whether its a cell-1st current market in China or a extra concentrated selection of gamers in the world-wide-web place — are not present in the U.S. or Europe.





Supply

Startups love the UK. Its IPO market? Not so much
World

Startups love the UK. Its IPO market? Not so much

London’s Old Street roundabout, home to many tech firms and sometimes dubbed “Silicon Roundabout.” Chris Ratcliffe | Bloomberg | Getty Images U.K. capital markets are at a crossroads. The country’s startups raised $8 billion in the first six months of the year, according to a report from Dealroom and HSBC Innovation Banking — more than […]

Read More
CNBC’s Inside India newsletter: The price of FOMO — India’s options market faces a reality check
World

CNBC’s Inside India newsletter: The price of FOMO — India’s options market faces a reality check

Hi, I’m Spriha Srivastava, executive editor for digital at CNBC International. Welcome to this edition of Inside India.  This week, I look at how the boom in India’s derivatives markets has brought a whole host of worries for retail investors, who are typically young and drawn in by the promise of quick profits. Mumbai, India: […]

Read More
European stocks open higher, brushing off tariff updates; WPP names Microsoft exec Cindy Rose as new CEO
World

European stocks open higher, brushing off tariff updates; WPP names Microsoft exec Cindy Rose as new CEO

Join CNBC for live updates on European markets. Source

Read More