Meta's Mark Zuckerberg is set to deliver a blow to Elon Musk on Wednesday night, as the tech billionaires' rivalry goes live with the launch of Instagram's much-anticipated Threads platform, a clone of Twitter.
Meta's Threads app and Twitter logos are seen in this illustration taken July 4, 2023. REUTERS/Dado Ruvic/Illustration/File PhotoMark Zuckerberg is set to deliver a blow to Elon Musk on Wednesday night, as the tech billionaires' rivalry goes live with the launch of Instagram's much-anticipated Threads platform, a clone of Twitter.
"Investors can't help but be a little excited about the prospect that Meta really has a 'Twitter-Killer' poised to launch on the app store," said Danni Hewson, head of financial analysis at investment platform firm AJ Bell. While Meta is likely to focus first on growing users before incorporating advertising on Threads, "there will be big brands that will happily a good amount of ad spend on the platform" to capitalize on early buzz, said Navarra.To build up Threads, Meta has been making overtures to social media influencers to attract them to the new app and encouraging them to post at least twice a day, said Ryan Detert, CEO of influencer marketing company Influential.
But history is working against Meta. It has suffered multiple failures launching standalone copycat apps in the past, most notably its Lasso app aimed at competing with short video rival TikTok.
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