Subhechcha Ganguly 
According to Reuters, Mark Zuckerberg informed staff on Thursday that Threads had lost more than half of its users.In just five days, Meta’s text-based software, which was created to compete with Twitter, attracted 100 million users, surpassing ChatGPT’s time to the same milestone. However, the tech juggernaut is having trouble keeping the majority of them.CEO of Meta Mark Zuckerberg reportedly claimed that retention on the app was “better than what the executives had expected, but it was not perfect” in an internal town hall meeting.
However, the CEO of Meta does not consider the user decline to be particularly unusual. According to the story, he also said that the decline in users was “normal” and that he was confident that retention rates will rise as the business added additional features to the app.
Reuters cited Chief Product Officer Chris Cox as saying, “Meta is looking at adding more retention-driving hooks to entice users to return to the app, like ensuring people who are on the Instagram app can see important Threads.”
Despite Meta’s “year of efficiency,” they are making significant investments in Threads, despite the fact that growth in their primary social companies, Facebook and Instagram, has plateaued at roughly 3 billion and 2 billion monthly users, respectively. Economic conditions, the proliferation of short-form video, and revisions to Apple’s iOS privacy policy have all hampered the revenue from digital advertising.Despite these difficulties, Meta is still upbeat about the platform’s future and anticipates third-quarter sales growth in the double digits, according to the most recent earnings report. In response to a strong financial report and outlook, investors appear to believe in Zuckerberg’s vision as Meta’s shares increased by 9%.
