Meta will introduce a competitor to Twitter

Meta (banned in the Russian Federation) is preparing to launch an alternative to the social network Twitter – the Threads application.

The development is a kind of extension for Instagram. You can pre-order Threads on the marketplace App Store.

Meta positions the new product as a “text communication application.” The screenshots show that Threads almost completely copies the Twitter interface.

According to the user agreement, the social network will collect all kinds of data about the user, including location and financial information.

In March, Meta announced the creation of a decentralized social network under the working name P92. It is not yet known whether the new development is a continuation of this initiative or whether Mark Zuckerberg is trying to benefit from the problems of a competitor.

In early July, Twitter owner Elon Musk introduced limits on tweet views. According to the businessman, the decision is “temporary” and is associated with an “extreme level” of data parsing and system manipulation. However, he did not name the timing of the lifting of restrictions.

In a discussion under Threads, the billionaire wrote that he was pleased with the “reasonable” launch of the application.

Against the backdrop of Elon Musk’s social network turmoil, lesser-known microblogging apps began to gain popularity. Jack Dorsey’s Cohost and BlueSky even experienced server overload due to high registration volumes.

Previously head of Tesla and SpaceX declaredthat the approximate profit of the social network at the end of the year will be $ 3 billion. In his opinion, this figure could be at the level of $ 4.5 billion if “2023 was an ordinary year.”

In May, there were reports that Twitter was losing $40 million in revenue due to its “community notes” feature. Ripple CTO David Schwartz jokingly called himself the cause of the situation.