Meta’s Threads, a micro-blogging app created to rival Elon Musk’s X, now boasts nearly 275 million monthly users, as announced by CEO Mark Zuckerberg on Wednesday.

This milestone marks a 175% increase from last year when Threads had reached 100 million users. The platform has also grown from 200 million monthly users reported during Meta’s second-quarter update in July. Zuckerberg further shared that Threads is now adding over 1 million new users daily.

Launched in July 2023, Threads was introduced as a competitor to X, previously known as Twitter. Musk purchased the social media platform in October 2022 for $44 billion, rebranding it as X.

While Threads’ user base continues to grow rapidly, X remains ahead with an estimated 550 million monthly users as of March, according to research firm Sensor Tower. However, X’s U.S. user base has reportedly dropped by 23% since Musk’s acquisition in October 2023.

Meta sees Threads as a new avenue to expand ad revenue, which comprised 98.3% of Meta’s total earnings in Q3. Analysts from Bernstein expressed optimism on Wednesday, noting that Threads’ rapid growth signals strong potential.

Across Meta’s suite of apps, including Facebook and Instagram, daily active users reached 3.29 billion, a 5% year-over-year increase, though slightly below analysts’ projections of 3.31 billion.

(Sources: CNBC.com)