The iconic blue Twitter bird logo, known as 'Larry', was auctioned for $34,325, falling short of the estimated $40,000. This emblematic symbol, which represented Twitter from 2012 to 2023, illustrates the impact of Elon Musk's rebranding of the platform to 'X.' Since the change, X's valuation has plummeted by 72% from Musk's purchase price, emphasizing the financial repercussions of altering a well-known brand identity. The auction house noted its significance, comparing it to logos of iconic brands like Nike and Apple.
Although Twitter and its light blue bird have since retired, the symbol remains an icon of tech and social media history, an instantly recognizable emblem in the same league as Nike or Apple Computer.
The loss of brand equity stemming from removing the blue bird logo and the name Twitter has significantly impacted the company’s worth, down 72% since Musk's acquisition.
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