Latest news with #LindaYaccarino
Yahoo
10 hours ago
- Business
- Yahoo
Elon Musk Just Turned X Into Wall Street's Newest Rival -- And It's Just the Beginning
X, the platform formerly known as Twitter, is inching closer to becoming a full-blown fintech ecosystem. CEO Linda Yaccarino told the Financial Times that users will soon be able to invest or trade directly on the apppart of Elon Musk's grander vision to turn X into a U.S. version of China's WeChat. That includes everything from peer-to-peer payments via X Money to digital tipping and possibly even credit or debit cards, which could arrive as early as this year. The rollout will begin in the U.S., with Visa onboard as a launch partner, before expanding to other markets. The move comes as X tries to climb out of its post-acquisition slump. Since Musk's $44 billion takeover, advertising revenue has dropped sharply, and the platform has battled both reputational damage and advertiser boycotts. Yaccarino says 96% of pre-acquisition advertisers have returned and expects revenue to rebound to 2022 levels super soon. But not everyone's convinced. Some advertisers remain wary, citing concerns over brand safety, content toxicity, and reports of pressure to spend or face legal action. Research firm Emarketer sees X's 2025 revenue reaching $2.3 billion, up from $1.9 billion last yearbut still far below the $4.1 billion it generated when Musk first took the reins. There's also a tech twist. In March, Musk folded X into his AI startup xAI in a $45 billion deal. Yaccarino believes this will double the engineering horsepower behind the platform and help deliver smarter, real-time ad targeting around trending content. While X may face serious regulatory friction as it pushes into payments and investing, the potential upside is significant. If it works, X could carve out a unique lane that blends trading, tipping, and transacting in one appterritory even Tesla (NASDAQ:TSLA) hasn't touched. This article first appeared on GuruFocus.
Yahoo
15 hours ago
- Business
- Yahoo
Elon Musk's X to Offer Investments, Trading 'Soon:' FT
Elon Musk's X is stepping up its push to turn the social media platform into an "everything app," the Financial Times reported on Thursday. The platform, formerly known as Twitter, will "soon" allow users to make investments or trades on the platform, CEO Linda Yaccarino told the newspaper in an interview at the Cannes Lions advertising festival. "Soon you're going to be able to live your whole financial life on the platform," Yaccarino said in a panel appearance at the same event, listing peer-to-peer (P2P) payments, storing value, paying creators or watching pay-per-view (PPV) events as examples. X partnered with Visa to develop "X Money" earlier this year as a digital wallet and P2P-payment service. This forms part of Musk's ambition to turn X into a super app, akin to the Chinese WeChat, which offers numerous retail and financial services as well as messaging. Elon Musk has become closely associated with cryptocurrency over a number of years, due to his fondness for memecoin DOGE and the 11,500 BTC ($1.2 billion) that his electric-car manufacturer Tesla holds. As such, crypto observers will think it likely that any plans Musk has for X to provide financial services will involve cryptocurrency in some form. X did not immediately respond to CoinDesk's request for comment.
Yahoo
17 hours ago
- Business
- Yahoo
Elon Musk Just Turned X Into Wall Street's Newest Rival -- And It's Just the Beginning
X, the platform formerly known as Twitter, is inching closer to becoming a full-blown fintech ecosystem. CEO Linda Yaccarino told the Financial Times that users will soon be able to invest or trade directly on the apppart of Elon Musk's grander vision to turn X into a U.S. version of China's WeChat. That includes everything from peer-to-peer payments via X Money to digital tipping and possibly even credit or debit cards, which could arrive as early as this year. The rollout will begin in the U.S., with Visa onboard as a launch partner, before expanding to other markets. The move comes as X tries to climb out of its post-acquisition slump. Since Musk's $44 billion takeover, advertising revenue has dropped sharply, and the platform has battled both reputational damage and advertiser boycotts. Yaccarino says 96% of pre-acquisition advertisers have returned and expects revenue to rebound to 2022 levels super soon. But not everyone's convinced. Some advertisers remain wary, citing concerns over brand safety, content toxicity, and reports of pressure to spend or face legal action. Research firm Emarketer sees X's 2025 revenue reaching $2.3 billion, up from $1.9 billion last yearbut still far below the $4.1 billion it generated when Musk first took the reins. There's also a tech twist. In March, Musk folded X into his AI startup xAI in a $45 billion deal. Yaccarino believes this will double the engineering horsepower behind the platform and help deliver smarter, real-time ad targeting around trending content. While X may face serious regulatory friction as it pushes into payments and investing, the potential upside is significant. If it works, X could carve out a unique lane that blends trading, tipping, and transacting in one appterritory even Tesla (NASDAQ:TSLA) hasn't touched. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data
Yahoo
17 hours ago
- Business
- Yahoo
Elon Musk Just Turned X Into Wall Street's Newest Rival -- And It's Just the Beginning
X, the platform formerly known as Twitter, is inching closer to becoming a full-blown fintech ecosystem. CEO Linda Yaccarino told the Financial Times that users will soon be able to invest or trade directly on the apppart of Elon Musk's grander vision to turn X into a U.S. version of China's WeChat. That includes everything from peer-to-peer payments via X Money to digital tipping and possibly even credit or debit cards, which could arrive as early as this year. The rollout will begin in the U.S., with Visa onboard as a launch partner, before expanding to other markets. The move comes as X tries to climb out of its post-acquisition slump. Since Musk's $44 billion takeover, advertising revenue has dropped sharply, and the platform has battled both reputational damage and advertiser boycotts. Yaccarino says 96% of pre-acquisition advertisers have returned and expects revenue to rebound to 2022 levels super soon. But not everyone's convinced. Some advertisers remain wary, citing concerns over brand safety, content toxicity, and reports of pressure to spend or face legal action. Research firm Emarketer sees X's 2025 revenue reaching $2.3 billion, up from $1.9 billion last yearbut still far below the $4.1 billion it generated when Musk first took the reins. There's also a tech twist. In March, Musk folded X into his AI startup xAI in a $45 billion deal. Yaccarino believes this will double the engineering horsepower behind the platform and help deliver smarter, real-time ad targeting around trending content. While X may face serious regulatory friction as it pushes into payments and investing, the potential upside is significant. If it works, X could carve out a unique lane that blends trading, tipping, and transacting in one appterritory even Tesla (NASDAQ:TSLA) hasn't touched. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
21 hours ago
- Business
- Zawya
Musk's X to offer investment, trading in 'super app' push, FT reports
X CEO Linda Yaccarino has said users will soon be able to make investments or trades on the social media platform, the Financial Times reported on Thursday, a move to support billionaire owner Elon Musk's vision to create an "everything app." In an interview with the publisher, Yaccarino said the company was exploring the introduction of an X credit or debit card, which could come as soon as this year. Musk, who in April 2022 clinched a $44 billion deal to buy Twitter and later rebranded it as X, has signaled plans to model it as a "super app," similar to China's WeChat. The social media platform did not immediately respond to a Reuters request for comment. "2025 X will connect you in ways never thought possible. X TV, X Money, Grok and more," Yaccarino wrote in a post in December last year. Payments giant Visa and X partnered to offer direct payment solutions to customers of the social media app, a person familiar with the matter said earlier this year. A super app, or what Musk refers to as an "everything app," has been described as the Swiss army knife of mobile apps, offering a suite of services for users such as messaging, social networking, payments and e-commerce shopping. X hired NBCUniversal advertising chief Yaccarino as CEO in 2023 amid advertiser exodus from the platform as they worried that their ads could appear next to inappropriate content. Yaccarino said that 96% of X's ad clients prior to acquisition had now come back to the platform, the Financial Times report said. The company is poised for its first year of ad revenue growth this year since its acquisition by Musk, according to data from research firm Emarketer in March. X had filed a lawsuit in federal court in Texas against the World Federation of Advertisers, accusing them of unlawfully conspiring to boycott the site and causing it to lose revenue. (Reporting by Jaspreet Singh in Bengaluru; Editing by Andrea Ricci)
