Even Meta and Twitter employees are surprised by the fast growth of the new Threads app
Already, Wall Street expects Threads to be a potential new source of cash at Meta. Last week, Meta's stock hit a new high for the last year at over $294 per share.
Threads could hit 10% of Instagram's daily active users, or 200 million people using the app a day, which is close to Twitter's current 250 million daily active users, according to a Monday note written by Mark Mahaney, who heads internet research for Evercore ISI. Threads doesn't make money for Meta yet, another person familiar with the company said, but it also costs the company"almost nothing." The team of engineers that built the app is just 15 people, while the entire Threads team is currently just 50 people, with Threads operated through Instagram's existing infrastructure. And Meta currently doesn't pay any creators or celebrities to sign up for or post to Threads, two people familiar with the company said.
With 200 million users, Threads could generate $8 billion a year in additional revenue for Meta, Mahaney estimated. That's more than Twitter ever generated. Twitter generated
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
How the Beauty Industry Is Taking on Threads, Meta’s Twitter Rival AppBeauty brands, retailers and influencers alike have flocked to the app since its Wednesday night debut.
Read more »
Elon Musk jet tracking account moves to Meta's Threads amid Twitter banThe creator of the Elon Musk jet tracking account that was banned on Twitter has resurfaced on Twitter-rival Threads following the Meta-owned platform's launch last week.
Read more »
Meta's Threads hits 100 million users as Twitter strugglesInstagram-linked Threads reached the 100 million benchmark within five days, a figure that Twitter is thought to have around 200 million regular users.
Read more »
Meta’s Twitter rival Threads now has 100 million signupsThreads, the Twitter rival launched last Wednesday by Facebook parent Meta Platforms Inc , has achieved 100 million signups, according to Search Engine...
Read more »
Meta’s Twitter rival Threads now has 100 million sign-upsThreads, the Twitter rival launched last Wednesday by Facebook parent Meta Platforms Inc. has achieved 100 million sign-ups, according to Search Engine...
Read more »
Twitter traffic is 'tanking' as Meta's Threads hits 100 million usersUser traffic on Twitter has slowed since the launch of Threads, which has already surpassed 100 million sign-ups since its debut last week.
Read more »