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Meta’s Twitter rival Threads explodes to 70 million signups one day after launch



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In this photo illustration, the Threads logo by META is displayed on a smartphone with Twitter logo in the background. Threads is the new social network from Meta Platforms which was launched on the 5th of July 2023. Omar Marques | Nurphoto | Getty ImagesMeta’s new Twitter competitor Threads has exploded in growth in its first full day since its public debut Wednesday night, fueled by Instagram’s already massive userbase. The text-based social media platform already has 70 million sign-ups, Meta CEO Mark Zuckerberg said on Friday. As of Thursday afternoon, The Verge reported that users had already posted more than 95 million posts and 190 million likes, based on internal company data it had viewed.Meta did not immediately respond to CNBC’s request on Friday morning to confirm its latest metrics.The booming growth is helped along by the fact that Threads is tied to an existing social network, Meta’s Instagram. Users can sign up with their existing handles on Instagram and are able to retain some of their following as others sign up for the app.”Meta only needs 1 in 4 Instagram users to use Threads monthly for it to be as big as Twitter,” Jasmine Enberg, principal analyst at Insider Intelligence, said in a statement. Twitter reported nearly 238 million monetizable daily active users in its last quarterly earnings report as public company last summer.The app still has plenty of room to grow, having not yet launched in Europe, where Instagram’s chief said there is still some regulatory complexity to navigate.Twitter owner Elon Musk appears to have already shown some concern about Threads, as his longtime lawyer Alex Spiro wrote a l …

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