Mark Vs. Elon: Meta's Threads Prepares To Counter Musk's X With Web Version

Meta Platforms Inc META is gearing up to launch a desktop version of its microblogging application, Threads. 

The anticipated web version seeks to address a significant request from its user base and comes as a notable upgrade to its rivalry against Elon Musk's X.

After Meta's initial release of Threads in July, it witnessed a surge in popularity, but its momentum has noticeably slowed recently. 

Despite this, certain features of Threads are accessible via the web, albeit in a limited capacity, with the platform predominantly tailored for mobile usage, the Wall Street Journal reports.

Also Read: How Much Annual Revenue Can Meta's New App Threads Generate? Analysts Have An Answer

Adam Mosseri, the helm at Instagram, revealed on his Instagram feed that Meta's in-house team is currently testing the web version of Threads. 

The rapid release of Threads was Meta's response to the growing demand for an alternative to X, previously identified as Twitter. Remarkably, Threads set a record by garnering 100 million downloads within five days of its debut.

Nevertheless, the initial buzz around Threads soon dwindled. Many attributed the drop to the absence of specific features, particularly the full web version. 

To enhance user experience, Meta has introduced several features lately, such as post notifications for detailed accounts and a unique chronological feed. 

Additionally, Threads started tagging state-controlled media outlets to combat misinformation, especially after incidents like the spread of a falsified video depicting President Biden.

Data from digital analytics firm, SimilarWeb, reveals that user engagement with Threads has declined by approximately 85% since its inception. Where it initially boasted nearly 50 million daily active users, it now stands below 10 million.

In contrast, X Corp (the rebranded Twitter) reports a nearly 363.7 million active monthly user base. For context, X said 237.8 million daily active users as a publicly-traded entity in July 2022 during its last earnings release.

Industry experts opine that launching a web version of Threads can substantially enhance Meta's reach online. 

Apart from the web version, Meta's CEO, Mark Zuckerberg, hinted at an upcoming enhanced search feature for Threads likely to facilitate users in searching for posts via keywords, a capability currently missing from the app.

Reports indicated that Threads' welcoming atmosphere and creative freedom attracted influencers from Twitter.

Price Action: Meta shares closed lower by 0.65% at $283.25 on Friday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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