Mark Vs. Elon: Meta's Threads Prepares To Counter Musk's X With Web Version
Portfolio Pulse from Anusuya Lahiri
Meta Platforms Inc is preparing to launch a desktop version of its microblogging application, Threads, in response to user demand and to compete with Elon Musk's X (rebranded Twitter). Despite initial popularity, Threads' user engagement has declined by approximately 85% since its inception. Industry experts believe that the web version of Threads could significantly enhance Meta's online reach. Meta's CEO, Mark Zuckerberg, also hinted at an upcoming enhanced search feature for Threads.
August 21, 2023 | 10:11 am
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NEUTRAL IMPACT
Meta Platforms is launching a desktop version of Threads to compete with Elon Musk's X. Despite initial popularity, Threads' user engagement has declined by approximately 85% since its inception.
The launch of a desktop version of Threads could potentially boost Meta's online reach and user engagement, which has declined significantly since the app's inception. However, it's uncertain how this will impact Meta's stock price in the short term, hence the neutral score.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100