Meta’s Twitter Rival Threads Overtakes ChatGPT as Fastest-Growing Platform

Meta Threads and Twitter app logos are seen in this illustration taken, July 7, 2023. (Reuters)
Meta Threads and Twitter app logos are seen in this illustration taken, July 7, 2023. (Reuters)
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Meta’s Twitter Rival Threads Overtakes ChatGPT as Fastest-Growing Platform

Meta Threads and Twitter app logos are seen in this illustration taken, July 7, 2023. (Reuters)
Meta Threads and Twitter app logos are seen in this illustration taken, July 7, 2023. (Reuters)

Meta Platforms' Twitter rival Threads crossed 100 million sign-ups within five days of launch, CEO Mark Zuckerberg said on Monday, dethroning ChatGPT as the fastest-growing online platform to hit the milestone.

Threads has been setting records for user growth since its launch on Wednesday, with celebrities, politicians and other newsmakers joining the platform seen by analysts as the first serious threat to the Elon Musk-owned microblogging app.

"That's mostly organic demand, and we haven't even turned on many promotions yet," Zuckerberg said in a Threads post announcing the milestone.

The app's sprint to 100 million users was much speedier than that of OpenAI-owned ChatGPT, which became the fastest-growing consumer application in history in January about two months after its launch, according to a UBS study.

Still, Threads has some catching up to do. Twitter had nearly 240 million monetizable daily active users as of July last year, according to the company's last public disclosure before Musk's takeover.

Twitter has responded to Threads' arrival by threatening to sue Meta, alleging that the social media behemoth used its trade secrets and other confidential information to build the app.

That claim, legal experts say, could be hard to prove.

Threads bears a strong resemblance to Twitter, as do numerous other social media sites that have cropped up in recent months as users have chafed at Musk's management of the service. It allows posts that are up to 500 characters long and supports links, photos and videos of up to 5 minutes.

The app also does not yet have a direct messaging function and lacks a desktop version that certain users, such as business organizations, rely on.

It also currently lacks hashtags and keyword search functions, which limits both its appeal to advertisers and its utility as a place for following real-time events like users frequently do on Twitter.

Still, analysts said the turmoil at Twitter, including recently imposed limits on the number on tweets users can see, could help Threads to attract users and advertisers.

Currently, there are no ads on the Threads app and Zuckerberg said the company would only think about monetization once there was a clear path to 1 billion users.

Instagram head Adam Mosseri said last week Meta was not trying to replace Twitter and that Threads aimed to focus on light subjects like sports, music, fashion and design.

He acknowledged that politics and hard news are inevitably going to show up on Threads, in what would be a challenge for the app pitching itself as the "friendly" option for public discourse online.



Stricken Ubisoft Says to Close British Studio

The Ubisoft Entertainment logo is seen at the Paris Games Week (PGW), a trade fair for video games in Paris, France, October 29, 2019. (Reuters)
The Ubisoft Entertainment logo is seen at the Paris Games Week (PGW), a trade fair for video games in Paris, France, October 29, 2019. (Reuters)
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Stricken Ubisoft Says to Close British Studio

The Ubisoft Entertainment logo is seen at the Paris Games Week (PGW), a trade fair for video games in Paris, France, October 29, 2019. (Reuters)
The Ubisoft Entertainment logo is seen at the Paris Games Week (PGW), a trade fair for video games in Paris, France, October 29, 2019. (Reuters)

Struggling French games giant Ubisoft said Monday that it would close a British studio and lay off 185 people across Europe as part of a restructuring.

The job cuts, which also affect operations in Germany and Sweden, were "part of our ongoing efforts to prioritize projects and reduce costs that ensure long-term stability", Ubisoft told AFP.

Monday's announcement covered the closure of Ubisoft's studio in Leamington in central England and layoffs at another in Newcastle, as well as in Duesseldorf and Stockholm.

The 185 job cuts across Europe compare with around 18,000 worldwide employees at the group.

Ubisoft had already closed studios in San Francisco and Osaka and began winding down its Sydney operation after shooter "XDefiant" last year failed to strike a chord with players, shedding 277 jobs.

Another blow had come with the lukewarm reception of another game, "Star Wars: Outlaws", which missed sales expectations.

And in January, Ubisoft announced a delay to the release of the latest instalment in its money-spinning flagship series "Assassin's Creed", to March 20.

The step forced bosses to lower their financial forecasts for the year, and Ubisoft's shares have fallen more than 40 percent in the past 12 months.

It has said it is considering its "strategic and capitalistic options" going into 2025, with rumors the company could be bought out and taken off the stock market.