A web version of Threads, Meta Platforms (META) L& The Instagram-linked chat-based social media app could launch as soon as this week, as executives aim to revive lagging user engagement and signups.
Key Points to Remember
- Meta Platforms may launch a web version of Threads this week.
- The move could help boost user engagement and app signups.
- This is the latest development in the company's competition with X Corp. (formerly Twitter).
In a Threads post, Instagram chief Adam Mosseri hinted that the company is set to release a web-based version of the app.
By introducing a web version of the chat-based app, Meta executives hope to revive Threads' initial popularity. The app, which launched on July 5, attracted 10 million users within hours of its launch, but user engagement has since declined significantly, while registrations have slowed to a low. net. The web version could also make Threads more accessible for businesses, advertisers and journalists aiming to reach a wider audience.
As of July 21, the average user was spending just four minutes on the app per session, down from 19 the day after its launch, while daily active users had dropped 70% to 13 million, according to the company. SimilarWeb data analytics. By contrast, Twitter, its main competitor, had 200 million daily active users at the end of July who spent an average of 30 minutes on the app.
Launching a web-based version of Threads would be the latest move in Meta's growing competition with X, formerly Twitter, and its owner Elon Musk. On Threads launch day, Meta CEO Mark Zuckerberg posted on Twitter for the first time in more than 10 years a photo of two Spidermen facing each other, likely referring to his confrontation with Musk. Musk and Zuckerberg also discussed taking part in an MMA-style cage match, much to the delight of fans.
Shares of meta-platforms rose a further 1% in early trading Monday before returning to gains. They have more than doubled so far this year, far outpacing the 35% gain of the broader S&P 500 information technology sector.
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Source: investopedia.com
