Elon Musk’s Twitter Logo Change Makes Big Mistake, Losing Billions according to Bloomberg Report

Twitter Platform Logo Change Causes Controversy

Introduction

“Twitter platform logo, letter X, Elon Musk…”, and many other similar terms have been the most used in the last few hours after the American billionaire announced changes to the platform.

Musk’s Decision and its Impact

However, these developments will not go unnoticed, it seems, as pundits and analysts have pointed out that Musk’s Twitter platform logo change has lost its mark among the $4 billion mark and is expected to reach $20 billion, according to a report by “Bloomberg.”

Expert Opinions

Steve Susi, Director of Communications at Siegel+Gale, a global specialty company in brand strategies, explained that a big loss could settle Twitter from Musk’s recent decision, especially since it took 15 years to get this amount of shares in Worldwide.

Twitter is one of the most recognizable brands on social mediasaid Todd Irwin, founder of Fazer Branding Agency, citing the worldwide spread of the blue bird symbol along with the logos of major platforms social Facebook and Instagram.

Video Content

For his part, Vanderbilt University, Tennessee finance professor Joshua White said: “The popularity of Twitter has made words and terms like “tweets” and “retweets” part of modern culture, and they are used regularly by celebrities and politicians to communicate with the masses, so changing them is a big mistake.

Criticism and Backlash

These developments come after Musk and Twitter CEO Linda Iaccarino unveiled the new logo on Monday. In which appears as a white “X” on a black background instead of the usual blue bird symbol.

Iaccarino tweeted on his account, saying, “X is here! Let’s do it.” He also posted a photo of the new logo from the company’s headquarters in San Francisco.

While the hashtag “Bye Twitter” has dominated the platform with a callback to the old slogan, amid much criticism.

The Future of Twitter’s Brand

Musk posted an image of the letter “X” against a black background, saying, “The logo is temporary, but we’ll be saying goodbye to the Twitter brand soon and gradually to all the birds,” he said.

While responding to a tweet asking what tweets with the new “X” tagline would be called, Musk replied that it would be “Exes,” according to Reuters.

According to brand valuation consultancy Brand Finance, Twitter’s brand value is estimated at around $4 billion, while the company estimated the Facebook brand at $59 billion and Instagram at $47.4 billion.

However, the value of the bluebird has declined since Musk acquired it last October for $44 billion.

For its part, Vanderbilt University estimates the brand value of Twitter at $15 billion to $20 billion, which is comparable to the brand value of the Snapchat app.

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