Meta Platform's Twitter rival Threads has quickly emerged as a serious threat to the microblogging app after surpassing 100 million users just five days after its launch, CEO Mark Zuckerberg said on Monday.
Threads crossed the 100 million user mark faster than any other tech platform in history, dethroning ChatGPT as the fastest-growing online app. In comparison, it took Twitter nearly two months after its launch to reach the same milestone.
Threads' rapid growth comes as users and engagement on Twitter are declining following Elon Musk's tumultuous takeover of the platform. Web traffic to Twitter is down around 11% since Threads launched, according to Similarweb.
Threads allows posts up to 500 characters long and supports photos, videos and links, similar to Twitter. However, Threads currently lacks hashtags, keyword search and a desktop version - features that make Twitter popular among businesses and for following live events.
Zuckerberg said Meta is not focused on making money from Threads yet and will wait until the app reaches 1 billion users before considering monetization. Instagram head Adam Mosseri acknowledged that politics will inevitably show up on Threads, posing a challenge for the app's mission to provide a "friendly" public forum.
Despite its limitations, analysts say Threads' arrival is forcing Twitter to improve as user dissatisfaction grows amid chaos under Musk. However, Meta shares little about how it intends to overcome Threads' current deficiencies to truly rival Twitter.
The rapid growth of Threads highlights investors' concerns about Meta's over-reliance on Facebook and Instagram for revenue. If Threads becomes a viable Twitter alternative, it could help diversify Meta's business and ad revenues over time.
