From Public to Private Ownership
The social media giant, formerly known as Twitter, has undergone significant changes recently, not only changing its name to X but also transitioning from a publicly listed company to a private entity. This transformation happened after the acquisition by tech magnate Elon Musk in 2022. Although this means that X is no longer available for direct investment in the stock market, there are still ways to get involved indirectly.
The Evolution of X
Launched as Twitter in 2006 by Jack Dorsey, Noah Glass, Biz Stone, and Evan Williams, the platform quickly gained traction, boasting over 100 million active users and 1.6 billion daily search queries just five years later. In 2022, X outperformed its competitors, growing its global market share by 55% compared to Facebook's 12% decline. This real-time microblogging platform was set to change the social media landscape for good.
However, the most significant change came at the end of 2022 when Elon Musk acquired the company, making it private and removing it from the New York Stock Exchange (NYSE). This move closed the door for direct public investment. This acquisition signified a new chapter in the history of X as it transitioned from a public company to a private one under the leadership of one of the world's most influential and innovative entrepreneurs. The decision to privatise X not only marked a significant shift in its corporate structure but also heralded the possibility of a new direction and vision for the platform, fuelling speculation and anticipation among its vast and devoted user base.
Twitter key statistics
• In 2022, Twitter amassed a revenue of $4.4 billion, which unfortunately marked an 11% decrease compared to the previous year.
• A significant portion of Twitter's 90% income was derived from advertising during 2022.
• The platform boasts a vast global user base totalling 540 million.
Investment Alternatives
Although X's stocks are no longer available, investors can explore other avenues. Elon Musk owns several other companies, including Tesla, which is publicly traded. Alternatively, investors can consider shares in social media platforms like Meta (formerly Facebook), Snapchat, or emerging platforms.
Elon Musk has hinted at the possibility of X going public again in the next three to five years, but there is no guarantee this will happen. For those unwilling to wait, investing in other growing social media platforms or Musk's other ventures are viable options.
Key Takeaways
While investing directly in X is no longer possible, many opportunities exist in social media. Whether you invest in one of Elon Musk's other ventures or a different social media platform, staying informed and monitoring your investments is essential.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. Investing always carries risks, and it is essential to carefully research and assess your financial situation before making investment decisions.
Frequently Asked Questions
Is X publicly traded?
No, X has not publicly traded since its acquisition by Elon Musk in November 2022.
What happened to the old Twitter stocks when the company was delisted?
Shareholders were compensated for the value of their shares when the company was delisted.
Does X have any shares available for purchase?
X, formerly traded as Twitter (TWTR) on the NYSE, is now a private company with no publicly available shares.
How can I invest in X?
Since X is privately held, it is not possible to invest directly. However, you can consider investing in other companies Elon Musk owns, such as Tesla, or explore other social media platforms.
