Disclaimer: Threads is not yet available for use in Europe.
The promising launch of Threads, the latest
Meta, a rival of Twitter, has taken an unexpected turn. According to recent revelations, the app has lost more than half of its users since its launch.
During an internal company town hall, CEO Mark Zuckerberg presented the shocking news. The head of the social media conglomerate emphasized that, despite a strong start, the retention rates fell below expectations. However, he added that such declines in the early stages of an app are not uncommon. Zuckerberg is confident that introducing new features, such as a desktop version and enhanced search capabilities, will improve retention rates.
Chris Cox, Meta's Chief Product Officer, revealed plans to add so-called "retention-boosting hooks." One of the key strategies is the integration with Instagram to highlight prominent Threads posts.
This retention-focused news follows closely on the heels of Meta’s recent positive financial forecast, which saw the company's stock rise by as much as 8%. Additionally, Zuckerberg emphasized Meta’s commitment to developing augmented and virtual reality technologies, the driving forces behind the upcoming metaverse. He highlighted the importance of maintaining an edge over competitors such as Apple, Google, and Microsoft.
The company also announced that they have released an AI model, called Llama 2, for commercial use. Within a week of this release, more than 150,000 download requests have already been recorded.
In conclusion, a notable remark from Zuckerberg regarding a proposed "cage fight" with tech tycoon Elon Musk raised doubts about whether this will ever come to fruition.