Meta Platforms recently launched Threads, a microblogging app that aims to compete with Twitter. This move brings Anthony Noto, the CEO of SoFi Technologies, back into the realm of his former company.
Noto, who spent approximately four years at Twitter in various roles including Chief Operations Officer and Chief Financial Officer, recognizes the immense value of Twitter’s content. He believes that what sets Twitter apart is its real-time nature and the fact that it appeals to a global audience, all while incurring minimal costs.
Twitter’s challenge now lies in making its product more user-friendly for the mass market. This segment is one that the social media giant has yet to fully capture. In this context, Threads could pose a significant threat to Twitter if it can provide a similar stream of appealing, real-time content within an easily navigable interface. Furthermore, given that Instagram’s user base surpasses Twitter’s, the fact that Threads is owned by Meta, the same company that owns Instagram, adds to its potential advantage. When users create their Threads account, Meta seamlessly transfers their Instagram usernames, profile pictures, and connections, creating a streamlined user experience.
However, Noto emphasizes that the success of Threads hinges on its ability to deliver real-time content in an accessible manner. Without this key feature, it will not be seen as a competitor to Twitter.
Threads has already gained attention within 24 hours of its launch. Mark Zuckerberg, the CEO of Meta Platforms, announced on the app that over 30 million users had already signed up.