(Bloomberg) – Twitter Inc. owner Elon Musk said the social media company will soon change its logo, getting rid of the blue bird that has long been its signature.
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“If a good enough X logo is released tonight, we’ll bring it to life worldwide tomorrow,” Musk tweeted late Saturday. About six months after acquiring Twitter for $44 billion, he merged the company into an entity called X Corp.
“Soon we will say goodbye to the Twitter brand and, gradually, to all the birds,” Musk wrote in another post.
Twitter still has a brand toolkit page on its website calling the light blue bird its “most recognizable asset.” Although this page states that the company protects its logo and offers guidelines on how to use it, Musk apparently isn’t a fan.
“This should have been done a long time ago,” he said during a brief appearance on Twitter Spaces, referring to the logo change. “We’re cutting the building’s Twitter logo with blowtorches,” he said, presumably referring to the sign he once modified at the company’s San Francisco headquarters.
The many changes Musk has made to Twitter so far have not worked well for stakeholders. In May, Fidelity cut the value of its stake in the company by two-thirds, while Cathie Wood’s ARK Investment Management cut its stake by 47%, she told the Wall Street Journal last week.
In March, Musk suggested the company was taking a turn by making its advertising more relevant. He said Twitter had a chance to break even based on cash flow in the second quarter.
This prediction was too optimistic. Musk tweeted earlier this month that Twitter’s cash flow was still negative and blamed a roughly 50% drop in ad revenue, as well as the company’s debt load.
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