A Peek Inside Elon Musk's 'X' Project and Its Twitter Transformation

Elon Musk’s “X” project is reshaping Twitter into an “everything app” with a focus on payments, but reports about its progress are a rollercoaster ride.

Linda Yaccarino, X’s CEO, claims they have a whopping 500 million monthly users who collectively spend 7.8 billion minutes per day on the app. The average user hangs around for over 32 minutes, and they’re welcoming 1.5 million new users daily. Big advertisers are back in business, at least according to her. However, external analyses offer a different narrative.

According to SimilarWeb, X’s monthly active user count is slipping globally. Here’s where it gets interesting: X is a private company now, so we can only rely on their word for the numbers. But things are not adding up.

In terms of daily app usage, it appears X has lost some daily users since March, which seems counterintuitive when considering the number of new sign-ups. This doesn’t paint a very promising picture.

Even advertisers may not be entirely on board, as reports suggest only a couple of major clients are running ads on X. The truth behind X’s financial situation is a mystery. The banks that funded Elon Musk’s acquisition are predicting significant losses.

In terms of upcoming features, X is planning to introduce full-screen, vertical video ads in its immersive playback mode, which is gaining traction with 100 million daily viewers.

Lastly, X is working on in-stream payments, but they’re still in the process of securing regulatory approvals.

To sum it up, while X portrays a rosy picture, external analyses raise doubts. The true story will unfold as X continues its journey. Keep your eyes peeled for updates!