Meta Threads to challenge Twitter microblogging dominance
Zuckerberg’s Meta launched a new “text-based conversation app” called Threads that clearly takes aim at Musk’s Twitter.
Threads will effectively extend a social network that has more than three billion people checking in daily.
Tweet on Meta & Twitter’s revenue
Zuckerberg’s Meta, launched a new “text-based conversation app” called Threads, which clearly takes aim at Musk’s @Twitter #Twitter #Threads #socialmedia #ElonMusk #Zuck pic.twitter.com/vmqwRH2y1j
— The_Journalbiz (@the_journalbiz) July 6, 2023
Factset chart
Mark Zuckerberg’s Twitter clone has the right timing, and the scale to disrupt Elon Musk’s town square is very serious.
It isn’t the first time Zuckerberg has copied a rival, nor is it the first attempt to create a new version of Twitter during the turbulent eight months since Musk formally took ownership of the place.
Facebook generates nearly $120 billion in annual advertising revenue Twitter was generating $4.7 billion annually before Musk took control—and set off a flight of advertisers worried about the stability of the platform under the Tesla CEO’s erratic management.
Threads early Thursday morning, Zuckerberg claimed the app has already racked up 10 million sign-ups in just seven hours. Meta’s share price jumped 3% on Wednesday ahead of the formal launch
According to Similarweb, daily users on the Bluesky iOS app more than doubled to 240,000 on Saturday—the day Twitter announced a controversial policy to limit the number of posts users can read on the platform
