Meta Platforms’ (META) newest creation, a social m🥂edia app called 'Threads,' attracted 10 million users in just seven hours🦂 after launching late yesterday and CEO Mark Zuckerberg sees the opportunity to reach more than a billion users.
Key Takeaways
- Meta Platforms' latest social media app, Threads, attracted 10 million users within just seven hours of its launch late yesterday.
- Meta CEO Mark Zuckerberg took to Twitter for the first time in over a decade in an apparent swipe at Twitter CEO Elon Musk.
- Zuckerberg has marketed Threads as a "friendly alternative" to Twitter.
- Zuckerberg sees an opportunity for a social network with more than a billion users.
The launch♛, which was originally scheduled for 10 a.m. Eastern Time today, was pushed forward to 7 p.m. ET yesterday, attracting millions of new use🌼rs in a span of hours. Threads is linked directly to Instagram, allowing users to follow the same accounts on both platforms with the click of a button.
For the first time in more than 10 years, Meta CEO Mark Zuckerberg took to Twitter—the platform owned by his rival Elon Musk—to post a picture of two Spidermen facing off, likely depicting his face-off with Musk. He also posted on Threads, congratulating the team on 10 million users in just seven hours of the app’s launch.
Billion-User Social Network Opportunity?
In response to a question, Zuckerberg said there's an opportunity for Threads to be bigger than Twitter.
"It'll take some time, but I think there should be a public conversations app with 1 billion+ people on it. Twitter has had the opportunity to do this but hasn't nailed it. Hopefully, we will," Zuckerberg said.
According to the 2023 Global Social Media Update published by Insider Intelligence, Twitter's user base is forecast to decline over the coming years, partly as a result of growing user dissatisfaction. Meta's Instagram is projected to see high single-digit growth this year, while Facebook will see modest growth of 1.0%.
Meta execs are marketing Threads as a "friendly" alternative in contrast to the often tense and politically-charged atmosphere on Twitter.
Musk responded to🅺 Zuckerberg with his oꦯwn tweet, aimed directly at Instagram.
"It is infinitely preferable to be attacked by strangers on Twitter than indulge in the false happiness of hide-the-pain Instagram," Musk tweeted.
Shares of Meta Platforms were flat at the start of trading Thursday. They've more than doubled so far this year.