AceShowbiz - Elon Musk says the Twitter name "does not make sense." The billionaire businessman bought the micro-blogging platform for $44 billion in 2022, and Elon recently announced a rebranding of the site.

"Twitter was acquired by X Corp both to ensure freedom of speech and as an accelerant for X, the everything app. This is not simply a company renaming itself, but doing the same thing," Elon, 52, explained on the platform. "The Twitter name made sense when it was just 140 character messages going back and forth - like birds tweeting - but now you can post almost anything, including several hours of video."

"In the months to come, we will add comprehensive communications and the ability to conduct your entire financial world. The Twitter name does not make sense in that context, so we must bid adieu to the bird (sic)."

Meanwhile, Linda Yaccarino, the managing director of the site, recently explained the company's long-term vision. She wrote online, "It's an exceptionally rare thing - in life or in business - that you get a second chance to make another big impression. Twitter made one massive impression and changed the way we communicate. Now, X will go further, transforming the global town square."

"X is the future state of unlimited interactivity - centered in audio, video, messaging, payments/banking - creating a global marketplace for ideas, goods, services, and opportunities. Powered by AI, X will connect us all in ways we're just beginning to imagine."

"For years, fans and critics alike have pushed Twitter to dream bigger, to innovate faster, and to fulfill our great potential. X will do that and more. We've already started to see X take shape over the past 8 months through our rapid feature launches, but we're just getting started."

"There's absolutely no limit to this transformation. X will be the platform that can deliver, well….everything. @elonmusk and I are looking forward to working with our teams and every single one of our partners to bring X to the world (sic)."