Introduction
X, initially launched as Twitter in 2006, is one of the world’s largest social media platforms. It enables users to share brief messages known as posts (previously tweets). The platform experienced a significant rebranding to X in 2023 when Elon Musk acquired it in 2022 for $44B. It turned from a microblogging site to a multipurpose platform with enhanced features, including payments, audio-video calls, and AI-driven tools.
History & Milestones
Jack Dorsey, Noah Glass, Biz Stone, and Evan Williams founded Twitter in March 2006 as a side project within Odeo, a podcasting company. It quickly gained popularity, particularly during the 2007 South by Southwest (SXSW) festival, where usage surged. It introduced hashtags in 2007, increased to 280 characters in 2017, and then launched Twitter Spaces for live audio conversations in 2021.
Product & Services
| Feature | Description |
|---|---|
| Posts | Text updates (280 characters for free users; 4,000 for X Premium subscribers |
| Spaces | Live audio chat rooms for discussions |
| Grok | AI-powered chatbot providing answers and summaries c |
| Community Notes | Crowdsourced fact-checking system allows users to add context to posts |
| X Premium | Subscription service offers verification, longer posts, and reduced ads |
| X Premium | X Premium Subscription service offers verification, longer posts, and reduced ads |
Business Model & Strategy
X primarily generates revenue through advertising, including promoted posts and video ads. X introduced subscription tiers (X Premium and Premium+), e-commerce integrations, and plans for financial services with X Money. Musk’s long-term vision is to transform X into an “everything app” similar to China’s WeChat, combining social media, payments, and AI-driven features.
Market Presence & Financials
X earned approximately 600 million monthly active users, though third-party data suggests a decline in daily engagement. The company’s valuation dropped significantly post-acquisition, from $44 billion to around $19 billion, largely due to advertiser pullouts and operational challenges.
Leadership & Culture
Linda Yaccarino has been serving as CEO since June 2023, observing business operations and advertiser relations. Elon Musk remains chairman and chief technology officer, doing product changes. The company drastically reduced its employees from 7,500 to around 1,500, which led to concerns about platform stability and content moderation.
Controversies & Challenges
X has faced multiple controversies, including a rise in misinformation and hate speech following Musk’s takeover. High-profile advertiser boycotts, such as those by Apple and Disney, impacted revenue. Legal challenges include a $150 million FTC fine for misusing user data and lawsuits over unpaid bills and wrongful terminations.
Future Outlook
X aims to evolve into AI with Grok, enhance monetization through X Premium, and launch X Money for digital payments. The platform is also exploring decentralized social media concepts through partnerships like Bluesky