LIVE UPDATES
Threads, Meta's competitor to Twitter, has attracted over 10 million users within the initial hours of its launch, according to Mark Zuckerberg, the CEO of the company.
The app became available on Apple and Android app stores in 100 countries at 2300 GMT on Wednesday and currently operates without ads.
However, its release in Europe has been postponed due to concerns regarding data privacy.
Threads pose a significant challenge to Twitter, which is owned by Elon Musk. While Twitter has faced numerous potential competitors, none have managed to replace one of the world's largest social media platforms despite its struggles.
Zuckerberg shared on his official Threads account, "10 million sign-ups in seven hours," taking a jab at Musk, with whom he has a well-known rivalry. The two have even jokingly suggested engaging in a cage fight.
In his first tweet in over a decade, Zuckerberg posted a meme featuring Spiderman pointing at Spiderman, highlighting the similarities between Threads and Twitter.
Zuckerberg expressed his vision for Threads, stating, "It'll take some time, but I think there should be a public conversations app with 1 billion+ people on it. Twitter has had the opportunity to do this but hasn't nailed it. Hopefully, we will."
Twitter has reported having over 200 million daily users.
Threads was introduced as a clear extension of Instagram, which already has an audience of over two billion users. This advantage spares the new platform from the challenge of starting from scratch.
Adam Mosseri, the head of Instagram, informed users that Threads aims to create "an open and friendly platform for conversations." He emphasized the importance of kindness for those who desire such an environment.
Zuckerberg is widely seen as capitalizing on Musk's tumultuous ownership of Twitter to introduce this new product, which Meta hopes will become the preferred platform for celebrities, companies, and politicians.
"If an Instagram user with a large number of followers, such as Kardashian, Bieber, or Messi, begins regularly posting on Threads, a new platform could quickly thrive," stated strategic financial analyst Brian Wieser on Substack.
Analyst Jasmine Engberg from Insider Intelligence highlighted that Threads only needs to attract one out of four monthly Instagram users to become as big as Twitter.
"Twitter users are desperate for an alternative, and Musk has given Zuckerberg an opening," she added.
Under Musk's leadership, Twitter has experienced reduced content moderation, glitches, and impulsive decisions that have driven away celebrities and major advertisers.
Musk has further upset Twitter's devoted fans by announcing that access to TweetDeck, a product enabling users to view a fast flow of tweets, would be restricted to paying customers only.
