Elon Musk dreams of launching X.com, a great all-in-one app similar to WeChat. According to the billionaire, the acquisition of Twitter will help accelerate the project. We take stock of the contractor’s plans.
After months of twists and turns, Elon Musk finally seems ready to buy Twitter. A few days ago, the whimsical billionaire pledged to honor his $44 billion buyout offer, thus avoiding a long and tedious trial.
In the process, Elon Musk again mentioned his super app project, X.com. According to the entrepreneur, the takeover of Twitter is only one ” accelerator to create X, the app of everything “. This is far from the first time that Elon Musk teases the creation of this application, which should be born on the fragile foundations of Twitter.
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X.com, Elon Musk’s mysterious project inspired by WeChat
According to previous statements by Elon Musk, X.com is an all-in-1 app, which combines all the features necessary for the daily life of users. To describe the project, the billionaire has never hidden his fascination with WeChat, the Chinese application.
Originally, WeChat was just an instant messaging application, like WhatsApp or Telegram. Over time, it has been enriched with essential options for everyday life. From now on, WeChat allows both to make payments for goods or services, to book a taxi, to play, to book a doctor’s appointment, to buy insurance, or to order food.
WeChat has become a swiss army knife app, which serves as both an alternative to WhatsApp, Uber, Uber Eats and an online bank. Thanks to the richness of its offer, WeChat has more than one billion monthly active users. Per day, 600 million people use the application.
” I’m thinking of the WeChat phenomenon in China, which is actually a really great, great app, but there’s no WeChat outside of China. And I think there is a real opportunity to create that. You basically live on WeChat in China because it’s so useful and essential to your daily life »Elon Musk explained to Twitter employees last June.
During his discussions with Twitter executives, Elon Musk announced his intention to turn Twitter into a great app analogous to WeChat. Despite the efforts of Meta, the parent company of Facebook and Instagram, there is still no central application as popular as WeChat in the Western world. Through this strategy, the entrepreneur hopes to boost the number of Twitter users and maximize revenue.
Among the main additions mentioned by Musk are payments. As part of Twitter’s transformation process, the businessman wants to allow users to make cryptocurrency payments directly within the app.
Asked by a user on his Twitter account, Elon Musk believes that the takeover of the social network should accelerate the creation of X.com ” three to five years ». For the billionaire, taking over the platform is just one step in an ambitious plan. If Elon Musk keeps his promises, the social network founded by Jack Dorsey will be transformed from top to bottom in the near future.
” I have kind of a grand vision for what X.com or X company could have been (…) I don’t really need Twitter, but Twitter should probably speed up the three-year project. I think it’s something that could be very useful for this world », said Elon Musk at a Tesla general meeting.
Where does the name X.com come from?
The name X.com is first of all the name ofan online banking start-up co-founded by Elon Musk in 1999. It aimed to offer a host of services initially reserved for banks, such as mortgage loans or insurance. Subsequently, the company was incorporated into PayPal, another company dreamed up by Musk. Following the takeover of PayPal by eBay in 2002, the X.com domain name fell into the hands of the online auction site.
Fifteen years later, Elon Musk buys the domain name, ensuring that he has “great sentimental value” to his eyes. In the process, the website is put back online. It boils down to a blank page displaying an X in the left corner of the screen. An error page, which is reduced to the letter Y, is also visible on the site. Nevertheless, it seems that Elon Musk did not yet have a specific plan for X.com when buying the domain name.
Thanks PayPal for allowing me to buy back https://t.co/bOUOejO16Y! No plans right now, but it has great sentimental value to me.
— Elon Musk (@elonmusk) July 11, 2017
The race for the super app
Unsurprisingly, Elon Musk is not the only one who wants to develop a great application for Westerners. In recent years, the Facebook application has been considerably enriched to meet all the needs of Internet users. It is now possible to exchange with friends, sell goods, make romantic encounters, play games, watch videos and get in touch with brands.
Mirroring Facebook, TikTok, the favorite app for 18-25 year olds, plans to gradually expand its range of features. ByteDance, parent company of TikTok, plans to add ad-sponsored video games to the app. The games would help boost TikTok’s ad revenue. At the same time, the Chinese application would be enriched with a music streaming platform similar to Spotify or Apple Music, TikTok Music. Under the impetus of Elon Musk, will Twitter, now X.com, succeed in dethroning Facebook and TikTok?