X CEO Linda Yaccarino has announced that the highly anticipated version of Elon Musk‘s envisioned “everything app” for the social media platform, formerly known as Twitter, is nearing its launch.
What Happened: Yaccarino expressed confidence in the imminent release of “X, the Everything App,” asserting, “This week we made it clear – @X the Everything App – is closer than everyone thinks! Nothing can slow us down. X is part of a constellation of companies working for the betterment of humanity.”
The app aims to benefit communities, creators, and businesses by consolidating diverse services into one platform, according to Yaccarino.
Yaccarino’s post from Friday provided key highlights of X, as discussed during the CES 2024 event. She underscored the app’s strong commitment to freedom of speech and its intention to establish a new video ecosystem leveraging the power of AI.
“If 2023 was foundational, 2024 will be completely transformational for X!” she said.
Why It Matters: Recently inked partnerships with notable personalities such as Tulsi Gabbard, Don Lemon, and Jim Rome signify X’s ambition to broaden perspectives and create new commercial opportunities.
The platform is also concentrating on developing a robust video ecosystem, indicating potential for growth in e-commerce and video collaboration with Shopify and Integral Ads.
The significance of the X app lies in its alignment with Elon Musk’s vision of transforming the platform into an “everything app,” akin to China’s WeChat. After Musk acquired Twitter for $44 billion in 2022, he aimed to revolutionize it into a comprehensive solution for users’ financial lives. A notable achievement in this direction was the acquisition of a money-transmitter license from Pennsylvania, allowing users to transfer money among themselves, similar to PayPal’s Venmo.
Positioned as more than just a social platform, X, with AI as a cornerstone of its development, opens new opportunities for advertisers and businesses alike.
In a conversation with Ark Invest CEO Cathie Wood on Wednesday, Musk reiterated his typically passive stance toward Bitcoin but said he would be open to the idea of using the cryptocurrency on X.
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