What’s a tweet going to be called on X? Elon Musk’s move to scratch the bird logo and all terminology associated with Twitter, including “tweet,” has wiped out USD bns from the platform’s brand value, Bloomberg reports, citing analysts and brand agencies. Twitter is a well-known brand that has become so omnipresent that its name is now used as a verb — a rare feat for a brand — and it is even rarer for the owner to announce plans to destroy it, the business information service notes .

Besides the potential financial losses, Musk’s rebrand could also land Twitter in hot water over legalities, Reuters reports. The letter X is widely used and cited in trademarks, and there are already several companies that have intellectual property rights to the letter, including Meta and Microsoft. “There’s a 100% chance that Twitter is going to get sued over this by somebody,” trademark attorney Josh Gerben told Reuters. He also identified around 900 active US trademark registrations that pertain to the letter X across a wide range of industries.

TikTok is going up against Spotify and Apple Music with its own music streaming service: Searching for growth avenues, TikTok launched TikTok Music in some of its largest markets such as Indonesia, Brazil, and Mexico along with inking an agreement with Warner Music Group, according to CNBC. Although music streaming giants already have a strong footing in the market, analysts believe TikTok may have the upper hand when it comes to seizing market share. “There’s already this large installed base of users which TikTok can convert into paying TikTok Music subscribers — with a relatively low customer acquisition cost,” explained Jonathan Woo, senior research analyst at Phillip Securities Research.

We’re sorry for making you feel old, but kids aged 16-19 have been discovering a lot of music through TikTok: In MiDIA’s fourth-quarter consumer survey, they discovered that 41% of respondents discover songs on TikTok, which is a powerful advantage for the company. This will eventually encourage users to listen to the songs they hear on TikTok videos elsewhere — and that’s where TikTok Music comes in, explains Tatiana Cirisano, MiDIA Research’s music analyst.

Chinese bubble tea makers opt for overseas IPOs: A group of Chinese bubble tea makers are set to sell shares in Hong Kong and US, placing wagers on the revival of consumer spending after lifting covid-19 restrictions, Bloomberg reports, citing sources with knowledge of the matter. At least six bubble tea companies, including Mixue Bingcheng, Auntea Jenny, and ChaBaiDao, are mulling going public overseas, the sources said.

Why not list on the local A market? Earlier this year, Chinese regulators have banned local listing of companies that use “an explosive” business model, where they burn “money in order to surge in scale,” Bloomberg quoting Shen Meng, a director at Beijing-based investment bank Chanson & Co. “Unfortunately, almost all bubble tea makers adopt this business model,” Shen Meng said, adding that the majority are “in the red, so it becomes hard for them to meet standards of an IPO in the A share market.”

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