X (formerly Twitter)
The Everything App — Real-Time Conversations, News, and Digital Public Square
𝕏Quick Facts
Founded (as Twitter)
March 21, 2006
Rebranded to X
July 23, 2023
Original Founders
Jack Dorsey, Noah Glass, Biz Stone, Evan Williams
Current Owner & CEO
Elon Musk
Headquarters
San Francisco, California
Acquisition Price
$44 Billion (2022)
Monthly Active Users
~550 Million (2026)
Parent Company
X Corp (Private)
Company Overview
X (formerly Twitter) is a social media platform focused on real-time information sharing and public conversation. Founded in 2006 as Twitter by Jack Dorsey, Noah Glass, Biz Stone, and Evan Williams, the platform pioneered microblogging with its iconic 140-character (later 280-character) tweet format.
Twitter became the de facto platform for breaking news, public discourse, celebrity communication, and political debate. The platform's influence extended far beyond its user count, shaping news cycles, launching movements like #MeToo and Arab Spring, and serving as a direct communication channel for world leaders, journalists, and public figures.
In October 2022, Elon Musk acquired Twitter for $44 billion in one of the largest leveraged buyouts in tech history. Musk took the company private, implemented massive restructuring, and rebranded it to "X" in July 2023 as part of his vision to create an "everything app" combining social media, payments, and other services.
Founding & Early History
2006: Birth of Twitter
Twitter originated from a brainstorming session at podcasting company Odeo. Jack Dorsey presented the idea of an SMS-based communication platform where users could share short status updates. The first prototype was developed in two weeks.
The first tweet was sent by Jack Dorsey on March 21, 2006: "just setting up my twttr." The service launched publicly in July 2006. The name "Twitter" was chosen because it meant "a short burst of inconsequential information" and "chirps from birds," which aligned with the platform's messaging concept.
2007-2009: Breaking Out
Twitter gained mainstream attention at the 2007 South by Southwest (SXSW) conference, where usage tripled from 20,000 to 60,000 tweets per day. The service won the festival's Web Award.
The 2008 U.S. presidential election marked Twitter's emergence as a political platform. Barack Obama's campaign effectively used Twitter for organizing and communication. In 2009, during Iran's Green Revolution, Twitter became a critical tool for protesters to coordinate and share information globally, establishing its role in social movements.
2013: Going Public
Twitter went public on November 7, 2013, with an IPO price of $26 per share, valuing the company at $18 billion. The stock surged 73% on the first day of trading. However, Twitter struggled with user growth and profitability for most of its time as a public company, never consistently turning a profit.
Elon Musk Acquisition & Transformation
April 2022: The $44 Billion Deal
After becoming Twitter's largest shareholder in April 2022, Elon Musk offered to buy the company for $54.20 per share, totaling approximately $44 billion. Musk cited concerns about free speech and Twitter's content moderation as motivations. After attempting to back out (citing bot concerns), legal pressure forced the deal to close on October 27, 2022.
October-December 2022: Radical Restructuring
Musk immediately began massive changes: fired CEO Parag Agrawal and top executives, laid off approximately 80% of staff (reducing from 7,500 to ~1,500 employees), disbanded the Trust and Safety Council, and reinstated previously banned accounts including Donald Trump.
Introduced Twitter Blue subscription verification for $8/month, replacing the previous free verification system. The chaotic rollout led to impersonation issues and advertiser flight.
July 2023: Rebranding to X
On July 23, 2023, Musk announced Twitter would be rebranded to "X," replacing the iconic bird logo with a stylized X. Musk described X as the future "everything app," envisioning integration of social media, payments, banking, and other services similar to China's WeChat.
2024-2026: Platform Evolution
Introduced long-form posts, video features, creator monetization tools, and integrated xAI's Grok chatbot. Launched peer-to-peer payment capabilities and job listings. However, the platform faced ongoing challenges with advertiser relations, content moderation controversies, and competition from Threads and Bluesky.
Major Milestones
Twitter founded; First tweet sent by Jack Dorsey
Becomes key platform during Iran's Green Revolution
Arab Spring protests organized via Twitter; 100 million users
IPO at $18 billion valuation; 200 million users
Jack Dorsey returns as CEO; Introduces Moments feature
Doubles character limit from 140 to 280; 330 million users
Launches Fleets (Stories-like feature, later discontinued)
Bans Donald Trump; Jack Dorsey resigns, Parag Agrawal becomes CEO
Elon Musk acquires Twitter for $44 billion; Massive layoffs begin
Rebrands to X; Introduces X Premium (formerly Twitter Blue)
Integrates Grok AI; Launches payment features; Faces advertiser challenges
~550 million monthly active users; Competes with Threads and Bluesky
Leadership History
Jack Dorsey (2006-2008, 2015-2021)
Co-founder & Two-Time CEO
Original founder who created the concept of Twitter. Served as CEO initially until 2008 when ousted by the board. Returned as CEO in 2015, overseeing Twitter's most politically influential years. Resigned in November 2021, later becoming a Musk critic over X's direction.
Evan Williams (2008-2010)
Co-founder & Second CEO
Blogger co-founder who replaced Dorsey as CEO. Focused on growing Twitter's user base and mainstream appeal. Stepped down in 2010 as Twitter prepared for eventual IPO.
Dick Costolo (2010-2015)
Third CEO
Former Google executive who led Twitter through its IPO. Struggled with user growth stagnation and monetization challenges. Resigned amid pressure from investors.
Parag Agrawal (2021-2022)
Fourth CEO
Former CTO who became CEO when Dorsey resigned. Served less than one year before being fired by Elon Musk immediately after the acquisition. Received significant severance package.
Elon Musk (2022-Present)
Owner & CEO
Tesla and SpaceX CEO who acquired Twitter for $44 billion. Implemented radical restructuring, massive layoffs, rebranded to X, and pursued vision of an "everything app." Remains controversial for content moderation decisions and management style.
Platform Statistics (2026)
Monthly Active Users (Est.)
Daily Active Users
Posts Per Day
Users Outside U.S.
Est. Annual Revenue (2025)
Employees (Down from 7,500)
Major Controversies
Content Moderation & Free Speech
Twitter/X has been at the center of free speech debates. Under Dorsey, the platform banned Donald Trump and other prominent figures. Under Musk, many bans were reversed, leading to concerns about misinformation and hate speech. The platform struggles to balance free expression with harmful content.
Advertiser Exodus
Following Musk's acquisition, major advertisers including Apple, Disney, IBM, and others paused spending due to concerns about content moderation and brand safety. Musk's combative response to advertisers ("Go f*** yourself") at DealBook Summit further damaged relationships. Ad revenue dropped ~50% in 2023.
Mass Layoffs & Working Conditions
Musk laid off approximately 6,000 employees (~80% of staff) within weeks of acquisition. Reports of "hardcore" work requirements, sleeping at the office, and rapid firings led to criticism of working conditions. Many key engineers and trust & safety team members departed.
Misinformation & Platform Manipulation
Platform has been criticized for spreading misinformation, particularly around elections, COVID-19, and political events. Bot networks, coordinated inauthentic behavior, and foreign interference have been ongoing challenges. Changes to verification system made it harder to identify credible sources.
Financial Struggles
The $44 billion acquisition loaded X with approximately $13 billion in debt. Annual interest payments of ~$1.2 billion, combined with declining ad revenue, have created severe financial pressure. Valuation estimates suggest X is worth ~$20 billion, less than half the purchase price.
Cultural Impact
Twitter revolutionized real-time communication and information sharing. The platform became the digital public square, where news breaks first, movements organize, and public discourse happens. Hashtags like #MeToo, #BlackLivesMatter, and #ArabSpring originated on or were amplified by Twitter, demonstrating its power to drive social change.
The platform changed journalism, with reporters breaking news via tweets and using the platform as a primary source. Politicians, including U.S. presidents, used Twitter for direct constituent communication, bypassing traditional media. The term "tweet" entered dictionaries, and "going viral" became part of everyday language.
Twitter's character limit shaped a new form of writing—concise, punchy, and immediate. The platform influenced how we consume news, engage in political discourse, and participate in collective movements. Despite its challenges, Twitter/X remains influential in shaping public opinion and cultural conversations.