“Meta’s Threads Surges to 275 Million Users in Record Time”

Published On: November 7, 2024 12:37 pm

Threads Surges to 275 Million Users: Meta Platforms Records Impressive Growth

Meta Platforms’ (META) social network, Threads, now boasts 275 million monthly active users (MAUs). Adam Mosseri, who heads Threads and Instagram at Meta, stated this and expressed gratitude on social media.

Remarkable Expansion of Threads

Meta launched the Threads platform in July 2023, aiming to attract users leaving the social media platform X after its acquisition by Elon Musk. Since its launch, Threads has seen impressive growth.

The platform reached 150 million MAUs by April and jumped to 200 million by August, gaining 75 million users in just three months. Last week, during Meta’s Q3 earnings call, CEO Mark Zuckerberg announced that Threads is welcoming 1 million new users every day.

Moreover, during the same earnings call, management highlighted rising user engagement on the platform. In Q3, Threads experienced “strong user growth in key markets like the US, Taiwan, and Japan.” The company plans to introduce more features, such as allowing users to save multiple drafts and providing businesses and content creators with insights on their post performance.

Analyst Outlook for Meta’s Stock

Analysts have a positive outlook on META stock, reflected in a Strong Buy consensus rating based on 41 Buys, three Holds, and one Sell. This year, META stock has risen by over 55%, and the average price target of $654.23 suggests a potential upside of 15.4% from current levels.