Meta Platforms’ executives are laser-focused on enhancing user retention for their new Twitter competitor, Threads, as the app experienced a significant drop in users following its high-profile launch, according to CEO Mark Zuckerberg’s communication with employees on Thursday.
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Although user retention on the text-based app surpassed executive expectations, it was still considered “not perfect,” as Zuckerberg conveyed during an internal town hall meeting. With over 100 million sign-ups, the company aims to improve user stickiness, acknowledging that they haven’t achieved that level yet.
Zuckerberg viewed the initial drop-off as “normal” and expressed confidence that user retention would improve with the addition of more features, such as a desktop version and search functionality.
To boost retention, Meta is exploring the implementation of “retention-driving hooks,” such as enabling Instagram users to access crucial Threads content, as mentioned by Chief Product Officer Chris Cox. However, the company declined to comment on the specifics of the meeting.
The executives’ statements followed Meta’s impressive revenue growth forecast, which pleased investors and indicated a potential rebound for the company. Previously, Meta had faced skepticism due to significant spending on the metaverse while ad sales declined.
Zuckerberg also discussed the company’s progress in augmented and virtual reality technology, which powers the metaverse. He acknowledged the importance of staying ahead of competitors like Apple, Google, and Microsoft, who have years of experience in building operating systems for existing products. Mass adoption of metaverse technologies is predicted to occur in the 2030s.
Additionally, Zuckerberg and Cox highlighted Meta’s release of an artificial intelligence model called Llama 2, freely available for commercial use to developers with fewer than 700 million users. The model received an overwhelming number of download requests within a week of its release.
Regarding the proposed “cage match” with Elon Musk, Zuckerberg expressed uncertainty about its realization.
