Meta Platforms (META) new Twitter rival called “Threads” signed up 30 million users on its first day, surpassing expectations.
Meta, which also owns Facebook, said that the number of users on Threads surpassed 30 million just sixteen hours after the new social media platform launched.
Threads is integrated with Meta Platforms’ popular Instagram site, making adoption of the new text-based application easy. Threads is currently the top free app in Apple’s App Store.
Threads is a direct challenge to Twitter, which has seen a decline in users and advertisers since billionaire Elon Musk bought the social media platform last October for $44 billion U.S.
Several other Twitter alternatives have emerged in recent months, including decentralized messaging apps Mastodon and Bluesky, though none has been able to match Twitter’s user base.
Threads appears to be gaining more traction out of the gate due to the fact that it is built on top of Instagram and is automatically linked to a user’s account on the photo-sharing app.
Meta is marketing Threads as Instagram’s “text-based conversation app” and it appears to be very similar to Twitter.
So similar in fact that Elon Musk has accused Meta Platforms of patent infringement and stealing trade secrets at Twitter.
Meta denies Musk’s claims and points to some differences between Twitter and Threads, such as the omission of direct messaging, no paid advertisements on the platform, and an inability to include hashtags in posts.
Also, Threads doesn’t have a desktop website, so users can only access it through iOS or Android apps.
Meta Platforms’ stock has risen 134% this year to trade at $291.99 U.S. per share.
