Billionaire Elon Musk wants to turn Twitter into a dating app

Sharing about the development vision of social network X (formerly Twitter), billionaire Elon Musk said he wants to turn X into a digital dating and banking application.

This information was given by Mr. Elon at the X company's all-hands meeting to celebrate the one-year anniversary of this billionaire taking over Twitter.

A year into his ownership of X, Musk is continuing to float wild ideas for the future of the social media platform. He is said to have communicated his passionate vision for X over the next year, aiming for it to be a fully developed digital dating site and bank by 2024.

Billionaire Elon Musk wants to turn Twitter into a dating app by 2024.

But Musk has so far been limited in providing details about the specific steps needed to transform X into a dating app, address potential user demand for these features, or outline additional modifications to the platform.

Essentially, the above goal fits with Musk's overall strategy of introducing payment-based features, a move that fits with the subscription-based model common in most modern dating apps.

Immediately after Elon Musk's announcement, shares of the world's leading dating website Match.com fell by 4.7%. However, many opinions still believe that Twitter, after a year under Elon Musk's management, has increasingly regressed.

X had about 13% fewer daily active users in the first nine months of 2023 than it did in October last year, according to data from Apptopia. Its staff also shrank from 7,500 at the time of the acquisition to about 1,500.

Twitter, once a key online meeting place for media professionals, political activists and news junkies, has lost its relevance as users move to other platforms.

Musk initially set out to shift Twitter (now called X) from advertising to paid subscriptions as a primary goal of his plan to buy the service. A recent analysis found that 950,000 to 1.2 million people currently pay for X’s $8 monthly subscription service.

X has convinced less than 1% of its users to sign up, resulting in just under $120 million in annual revenue from its subscription service—a figure that can’t replace the advertising revenue Twitter relied on before Musk took over.

Tra Khanh (Source: Sputnik)

Source