{"id":32820,"date":"2023-07-28T08:36:12","date_gmt":"2023-07-28T08:36:12","guid":{"rendered":"https:\/\/www.africa-press.net\/mauritius\/all-news\/twitter-to-lose-over-us20-billion-in-rebranding-efforts"},"modified":"2023-07-28T08:57:44","modified_gmt":"2023-07-28T08:57:44","slug":"twitter-to-lose-over-us20-billion-in-rebranding-efforts","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mauritius\/all-news\/twitter-to-lose-over-us20-billion-in-rebranding-efforts","title":{"rendered":"Twitter to lose over US$20 billion in rebranding efforts"},"content":{"rendered":"

Africa-Press – Mauritius. <\/strong><\/span>It is rare for corporate brands to become so intertwined with everyday conversation that they become verbs. It is rarer still for the owner of such a brand to announce plans to intentionally destroy it.<\/p>\n

On Sunday, in the middle of a quiet summer weekend, Elon Musk decreed that Twitter\u2019s product name would be changed to \u201cX\u201d, and that he was getting rid of the bird logo and all the associated words, including \u201ctweet\u201d.<\/p>\n

Mr Musk\u2019s move wiped out anywhere between $4 billion and $20 billion in value, according to analysts and brand agencies. \u201cIt took 15-plus years to earn that much equity worldwide, so losing Twitter as a brand name is a significant financial hit,\u201d said Steve Susi, director of brand communication at Siegel & Gale.<\/p>\n

Mr Musk, whose company has already declined significantly in value since he purchased it for $44 billion in October, announced the change on Saturday night.<\/p>\n

By Monday morning, a new black \u201cX\u201d logo, designed by a fan at the weekend, began to appear across the site. New chief executive Linda Yaccarino outlined the company\u2019s vision for X to become a site for audio, video, messaging, payments and banking.<\/p>\n

Analysts and brand agencies call the product\u2019s renaming a mistake. Twitter is one of the most recognisable social media brands, said Todd Irwin, founder of brand agency Fazer. Bird decals adorn small businesses and websites worldwide, alongside Instagram and Facebook logos.<\/p>\n

Twitter\u2019s popularity has also made verbs like \u201ctweet\u201d and \u201cretweet\u201d part of modern culture, used regularly to explain how celebrities, politicians and others communicate with the public, said Joshua White, assistant professor of finance at Vanderbilt University.<\/p>\n

X will require the company to rebuild that cultural pull and linguistic consensus from scratch. But that may be part of the motivation, so users stop comparing Twitter post-takeover to what it was before.<\/p>\n

It\u2019s an exceptionally rare thing \u2013 in life or in business \u2013 that you get a second chance to make another big impression,\u201d Ms Yaccarino tweeted. Other tech companies have renamed themselves in recent years.<\/p>\n

Google turned into Alphabet to allow different businesses within the company to grow without being tied to search. Facebook changed into Meta Platforms to emphasise the company\u2019s commitment to the metaverse.<\/p>\n

But the product names remained; we still google things by going to Google. That is worth a lot. Twitter\u2019s brand value is estimated at about $4 billion, according to brand valuation consulting company Brand Finance.<\/p>\n

The company values the Facebook brand at $59 billion and Instagram at $47.4 billion. Vanderbilt University estimates Twitter\u2019s brand value at $15 billion to $20 billion, which is comparable with Snapchat.<\/p>\n

Brand valuation is difficult to determine, and there is no single approach, which is why estimates vary, said Dipanjan Chatterjee, an analyst with Forrester Research.<\/p>\n

But several analysts and agencies agreed that the company\u2019s brand has already taken a significant hit since Mr Musk\u2019s takeover. Brand Finance, for example, estimates the Twitter brand lost 32 per cent of its value since last year.<\/p>\n

As the perception of Twitter\u2019s brand has changed, advertisers have fled. Advertisers were concerned about Mr Musk\u2019s courting of controversy and embrace of tweeters who broke content rules.<\/p>\n

X is the future state of unlimited interactivity \u2013 centered in audio, video, messaging, payments\/banking \u2013 creating a global marketplace for ideas, goods, services, and opportunities.<\/p>\n

Powered by AI, X will connect us all in ways we\u2019re just beginning to imagine. Advertising revenue at Twitter is down more than 50 per cent since October, Mr Musk has.<\/p>\n

Twitter\u2019s corporate brand is already heavily intertwined with Musk\u2019s personal brand, with or without the name X, and much of Twitter\u2019s established brand equity has already been lost among users and advertisers,\u201d said Jasmine Enberg, an analyst with Insider Intelligence.<\/p>\n

It\u2019s \u201ccompletely irrational from a business and brand point of view\u201d, said Allen Adamson, co-founder of the marketing and brand consulting group Metaforce.<\/p>\n

He called it an \u201cego decision\u201d on the part of Mr Musk. \u201cTo me, it\u2019s going to go down in history as one of the fastest unwinding of a business and brand ever.<\/p>\n

\u201d There is also the risk to Mr Musk\u2019s future goals. Building banking and payments into the app will require customer trust \u2013 something that is difficult to get with a brand-new product name.<\/p>\n

\u201cI just think that customers outside of Musk\u2019s sort of core fan base would really struggle to use Twitter to exchange their money,\u201d Vanderbilt\u2019s Mr White said. One thing working in Mr Musk\u2019s favour is \u201cthe Elon brand\u201d, said Mr Irwin. \u201cHis personal brand might be more powerful than the Twitter brand.\u201d<\/p>\n

For More News And Analysis About Mauritius<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mauritius. It is rare for corporate brands to become so intertwined with everyday conversation that they become verbs. It is rarer still for the owner of such a brand to announce plans to intentionally destroy it. On Sunday, in the middle of a quiet summer weekend, Elon Musk decreed that Twitter\u2019s product name […]<\/p>\n","protected":false},"author":84,"featured_media":32818,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,9],"tags":[233,245,241,2008],"class_list":["post-32820","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-miscellaneous","tag-africa-press","tag-africa-press-mauritius","tag-mauritius","tag-twitter"],"yoast_head":"\nTwitter to lose over US$20 billion in rebranding efforts - Mauritius<\/title>\n<meta name=\"description\" content=\"It is rare for corporate brands to become so intertwined with everyday conversation that they become verbs. It is rarer ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/twitter-to-lose-over-us20-billion-in-rebranding-efforts\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Twitter to lose over US$20 billion in rebranding efforts\" \/>\n<meta property=\"og:description\" content=\"It is rare for corporate brands to become so intertwined with everyday conversation that they become verbs. It is rarer ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/twitter-to-lose-over-us20-billion-in-rebranding-efforts\" \/>\n<meta property=\"og:site_name\" content=\"Mauritius\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-28T08:36:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-28T08:57:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/07\/sm_1690521936.780019.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"976\" \/>\n\t<meta property=\"og:image:height\" content=\"549\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/twitter-to-lose-over-us20-billion-in-rebranding-efforts#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/twitter-to-lose-over-us20-billion-in-rebranding-efforts\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Twitter to lose over US$20 billion in rebranding efforts\",\"datePublished\":\"2023-07-28T08:36:12+00:00\",\"dateModified\":\"2023-07-28T08:57:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/twitter-to-lose-over-us20-billion-in-rebranding-efforts\"},\"wordCount\":798,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/twitter-to-lose-over-us20-billion-in-rebranding-efforts#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/07\/sm_1690521936.780019.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mauritius\",\"Mauritius\",\"Twitter\"],\"articleSection\":[\"all news\",\"miscellaneous\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mauritius\/all-news\/twitter-to-lose-over-us20-billion-in-rebranding-efforts#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/twitter-to-lose-over-us20-billion-in-rebranding-efforts\",\"url\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/twitter-to-lose-over-us20-billion-in-rebranding-efforts\",\"name\":\"Twitter to lose over US$20 billion in rebranding efforts - Mauritius\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/twitter-to-lose-over-us20-billion-in-rebranding-efforts#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/twitter-to-lose-over-us20-billion-in-rebranding-efforts#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/07\/sm_1690521936.780019.jpg\",\"datePublished\":\"2023-07-28T08:36:12+00:00\",\"dateModified\":\"2023-07-28T08:57:44+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"It is rare for corporate brands to become so intertwined with everyday conversation that they become verbs. It is rarer ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/twitter-to-lose-over-us20-billion-in-rebranding-efforts#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/mauritius\/all-news\/twitter-to-lose-over-us20-billion-in-rebranding-efforts\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/twitter-to-lose-over-us20-billion-in-rebranding-efforts#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/07\/sm_1690521936.780019.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/07\/sm_1690521936.780019.jpg\",\"width\":976,\"height\":549,\"caption\":\"Twitter to lose over US$20 billion in rebranding efforts\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/twitter-to-lose-over-us20-billion-in-rebranding-efforts#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/mauritius\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Twitter to lose over US$20 billion in rebranding efforts\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/#website\",\"url\":\"https:\/\/www.africa-press.net\/mauritius\/\",\"name\":\"Mauritius\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/mauritius\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Twitter to lose over US$20 billion in rebranding efforts - Mauritius","description":"It is rare for corporate brands to become so intertwined with everyday conversation that they become verbs. It is rarer ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/mauritius\/all-news\/twitter-to-lose-over-us20-billion-in-rebranding-efforts","og_locale":"en_US","og_type":"article","og_title":"Twitter to lose over US$20 billion in rebranding efforts","og_description":"It is rare for corporate brands to become so intertwined with everyday conversation that they become verbs. It is rarer ...","og_url":"https:\/\/www.africa-press.net\/mauritius\/all-news\/twitter-to-lose-over-us20-billion-in-rebranding-efforts","og_site_name":"Mauritius","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2023-07-28T08:36:12+00:00","article_modified_time":"2023-07-28T08:57:44+00:00","og_image":[{"width":976,"height":549,"url":"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/07\/sm_1690521936.780019.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/mauritius\/all-news\/twitter-to-lose-over-us20-billion-in-rebranding-efforts#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/mauritius\/all-news\/twitter-to-lose-over-us20-billion-in-rebranding-efforts"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"Twitter to lose over US$20 billion in rebranding efforts","datePublished":"2023-07-28T08:36:12+00:00","dateModified":"2023-07-28T08:57:44+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/mauritius\/all-news\/twitter-to-lose-over-us20-billion-in-rebranding-efforts"},"wordCount":798,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/mauritius\/all-news\/twitter-to-lose-over-us20-billion-in-rebranding-efforts#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/07\/sm_1690521936.780019.jpg","keywords":["Africa Press","Africa Press-Mauritius","Mauritius","Twitter"],"articleSection":["all news","miscellaneous"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/mauritius\/all-news\/twitter-to-lose-over-us20-billion-in-rebranding-efforts#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/mauritius\/all-news\/twitter-to-lose-over-us20-billion-in-rebranding-efforts","url":"https:\/\/www.africa-press.net\/mauritius\/all-news\/twitter-to-lose-over-us20-billion-in-rebranding-efforts","name":"Twitter to lose over US$20 billion in rebranding efforts - Mauritius","isPartOf":{"@id":"https:\/\/www.africa-press.net\/mauritius\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/mauritius\/all-news\/twitter-to-lose-over-us20-billion-in-rebranding-efforts#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/mauritius\/all-news\/twitter-to-lose-over-us20-billion-in-rebranding-efforts#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/07\/sm_1690521936.780019.jpg","datePublished":"2023-07-28T08:36:12+00:00","dateModified":"2023-07-28T08:57:44+00:00","author":{"@id":"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"It is rare for corporate brands to become so intertwined with everyday conversation that they become verbs. It is rarer ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/mauritius\/all-news\/twitter-to-lose-over-us20-billion-in-rebranding-efforts#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/mauritius\/all-news\/twitter-to-lose-over-us20-billion-in-rebranding-efforts"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/mauritius\/all-news\/twitter-to-lose-over-us20-billion-in-rebranding-efforts#primaryimage","url":"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/07\/sm_1690521936.780019.jpg","contentUrl":"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/07\/sm_1690521936.780019.jpg","width":976,"height":549,"caption":"Twitter to lose over US$20 billion in rebranding efforts"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/mauritius\/all-news\/twitter-to-lose-over-us20-billion-in-rebranding-efforts#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/mauritius\/"},{"@type":"ListItem","position":2,"name":"Twitter to lose over US$20 billion in rebranding efforts"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/mauritius\/#website","url":"https:\/\/www.africa-press.net\/mauritius\/","name":"Mauritius","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/mauritius\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/mauritius\/wp-json\/wp\/v2\/posts\/32820","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/mauritius\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/mauritius\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/mauritius\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/mauritius\/wp-json\/wp\/v2\/comments?post=32820"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/mauritius\/wp-json\/wp\/v2\/posts\/32820\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/mauritius\/wp-json\/wp\/v2\/media\/32818"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/mauritius\/wp-json\/wp\/v2\/media?parent=32820"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/mauritius\/wp-json\/wp\/v2\/categories?post=32820"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/mauritius\/wp-json\/wp\/v2\/tags?post=32820"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}