Home » Meta Stock jumps 1.7% in premarket after Threads Launch
Meta, the tech titan previously known as Facebook, has recently expanded its empire with an exciting new endeavour. Their latest creation, Threads, is an innovative platform designed to rival the wildly popular social media giant, Twitter.
Within just four hours of its launch, Threads has already amassed a staggering five million sign-ups, signaling a promising start for Meta’s newest creation. The rapid adoption of Threads hints at a potentially successful future, further cementing Meta’s status as a formidable force in the digital realm.
Meta Stock jumps 1.7% in premarket after Threads Launch
Meta’s shares have seen a 1.7% increase in premarket trading following the launch of its new text-based app, Threads. The new application is seen as a rival to Twitter, and its launch has been anticipated by investors and shareholders alike. This rise is an extension of an impressive performance by Meta in 2022, with its shares climbing over 137% year-to-date. This follows a pair of better-than-expected earnings reports and strategic moves by CEO Mark Zuckerberg to navigate competitive pressure from other social media platforms like Twitter and TikTok .
Threads is a unique social networking platform that gives users the ability to share short updates. These updates can be made up of text, links, photos, and videos. Users can log in using their existing Instagram credentials, which provides a seamless transition for those already active on the popular photo-sharing platform.
The platform allows posts with a maximum of 500 characters, significantly more expansive than Twitter’s 280 character limit. Content creators can also share videos up to five minutes long, providing more room for expression and engagement.
Threads, however, is not available in the European Union due to data privacy concerns, limiting its global reach.
The Launch of Threads: Breaking New Ground
Threads made its debut 15 hours ahead of schedule, launching at 7pm EDT in the United States and midnight in the United Kingdom. The app is now available for download in 100 countries on both the Apple and Google app stores.
High-profile brands such as Billboard, HBO, NPR, and Netflix were among the early adopters, setting up accounts within minutes of the app’s launch. Celebrity endorsements from figures like Shakira and Gordon Ramsay further boosted the app’s appeal.
Threads vs. Twitter: Spotting the Differences
While Threads bears a strong visual resemblance to Twitter, there are a few key distinctions. For starters, what Twitter refers to as “tweets” are known as “threads” on the new platform. Similarly, Twitter’s “retweets” are referred to as “reposts” on Threads.
Another significant departure from Twitter’s model is the length of posts allowed on Threads. Users can post updates with up to 500 characters, nearly double the character limit for most Twitter posts. The platform also allows videos of up to five minutes in length to be shared.
Threads and Instagram: A Powerful Partnership
To use Threads, individuals need an active Instagram account. Once users have signed up for Threads, they can opt to follow the same accounts they follow on Instagram, provided those accounts have also joined Threads. This integration with Instagram allows for a seamless transition for users, making it easier for them to navigate and engage with the new platform.
The Power of Meta: Copying or Innovating?
Threads’ striking resemblance to Twitter has raised a few eyebrows. However, this isn’t the first time Meta has drawn inspiration from its competitors. In 2020, for instance, Instagram launched the Reels feature, which was widely noted for its similarity to TikTok’s short-form videos.
Despite these similarities, Threads offers unique features that set it apart. Users can share posts as links on other platforms, unfollow or block others, and filter out responses based on specific words.
Check also the live prices of these main stocks on FintechZoom:
Meta’s launch of Threads comes during a turbulent period for Twitter. The microblogging site recently imposed restrictions on tweet views, blaming it on companies that harvest data to build artificial intelligence models.
Meta’s CEO, Mark Zuckerberg, voiced his ambition for Threads to reach a billion users, capitalizing on what he perceives as Twitter’s missed opportunities.
The reception to Threads has been mixed, ranging from cautious optimism to outright enthusiasm. Many users have praised the app’s ease of use, with some suggesting that Elon Musk, the CEO of Twitter, should be worried. The swift integration of Threads with Instagram has also highlighted Meta’s powerful position in the digital landscape.
Threads: A New Era for Social Media?
Threads represents a significant step forward for Meta, positioning itself as a strong contender in the social media space. The app offers a new platform for real-time updates and public conversations, expanding Instagram’s successful model to text-based posts.
With Twitter boasting over 250 million users and Instagram reportedly having 2 billion, the potential for Threads to attract a significant user base is substantial.
Threads and Decentralization: A Game-Changing Approach
Threads isn’t just a Twitter copycat. Meta is also planning to make Threads compatible with ActivityPub, a technology that underpins decentralized social networks like Mastodon. This compatibility would allow Threads users to take their accounts and followers to other ActivityPub-supported apps if they choose to stop using Threads.
The introduction of Threads marks an exciting development in the world of social media. With its innovative features and seamless integration with Instagram, Threads is poised to become a major player in the global digital landscape. However, only time will tell if Threads can live up to its potential and carve out its own unique space in the crowded social media market.