Meta Platforms, the parent company of Facebook, is working on improving user retention on its new Twitter competitor, Threads. CEO Mark Zuckerberg addressed employees during an internal town hall meeting to discuss the app’s performance. Despite losing more than half of its users shortly after the launch, Zuckerberg remained optimistic about the app’s future.
Retention Challenges and Expectations
During the town hall, Zuckerberg acknowledged that while the retention rate on Threads was not perfect, it exceeded executive expectations. He mentioned that it would be ideal if all or at least half of the app’s 100 million sign-ups continued to use the app. Zuckerberg considered the initial drop-off as “normal” and anticipated better retention as the company introduced additional features.
Improving User Retention
To entice users to return to the app, Meta Platforms plans to implement “retention-driving hooks.” These hooks would include features like integrating important Threads into the Instagram app to reach a wider audience. Chief Product Officer Chris Cox emphasized the importance of utilizing existing platforms to drive user engagement.
Meta Platforms recently impressed investors with a promising revenue growth forecast, indicating a comeback after facing skepticism over its metaverse investments. The company’s shares surged by 8 percent following the disclosure. Zuckerberg expressed confidence in Meta Platforms’ work on augmented and virtual reality, stating that it was on track compared to rivals like Apple, Google, and Microsoft.
Zuckerberg stressed the importance of investing in metaverse technologies ahead of competitors to ensure Meta Platforms has all the necessary tools for mass adoption. He predicted that the widespread adoption of metaverse technologies would occur in the 2030s, highlighting the need to start early.
Meta Platforms announced the release of an artificial intelligence model called Llama 2. This model is freely available for commercial use by developers with fewer than 700 million users. Within a week of its release, Llama 2 has already received over 150,000 download requests, showcasing the developer community’s interest.
Elon Musk “Cage Match”
Addressing a question about a possible “cage match” against Elon Musk, Zuckerberg expressed uncertainty about its potential. It remains to be seen if such an event will come to fruition.
Meta Platforms is actively working to improve user retention on its Twitter rival, Threads. Despite an initial drop-off in users, the company remains optimistic and has plans to introduce more features and integrations to enhance the app’s appeal. With a positive revenue growth forecast and investments in metaverse technologies, Meta Platforms aims to stay ahead of competitors and prepare for the future.
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