Meta Platforms Inc (NASDAQ:META) continues to build on its social media dominance with its latest platform, Threads, achieving significant milestones in user engagement.
Just a day after Meta CEO Mark Zuckerberg mentioned Threads reaching “almost” 200 million users during the company’s fiscal second-quarter 2024 earnings call, the platform has officially crossed that milestone, TechCrunch reports.
Adam Mosseri, the head of Instagram, confirmed in a post on Threads that the Twitter rival has now reached 200 million active users.
Meta accomplished this feat in just 13 months since the platform’s launch in July 2023.
Threads’ growth has been notable. It reached 150 million users by April 2024 and hit 175 million by its first anniversary in July before quickly jumping to 200 million in August. In comparison, Threads’ main competitor, X (formerly Twitter), reported over 600 million monthly users in May, as stated by its owner Elon Musk.
Prior reports indicated Meta will leverage its success in digital advertising to offer more targeted and personalized ads on Threads.
Meta stock gained over 52% as it remains invested in its artificial intelligence ambitions. In July, the Facebook parent reported second-quarter revenue of $39.07 billion, up 22% year over year and beating analyst consensus of $38.31 billion.
Price Action: META shares traded lower by 1.39% at $490.84 at the last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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