CEO Mark Zuckerberg informed staff on Thursday that Meta Platforms executives are putting a lot of effort into increasing retention to save Threads, their new Twitter competitor, after the app lost more than half of its users in the weeks following its buzzy launch.
Although it wasn’t flawless, user retention on the text-based app was better than management had anticipated, according to Zuckerberg, who was addressing at an internal company town hall whose audio was picked up by Reuters.
Meta’s Plans for Increasing User Retention
According to Zuckerberg, he thought the retention rate was typical and anticipated it to rise as the business added additional features to the app, such as a desktop version and search tools.
According to Chief Product Officer Chris Cox, Meta is considering adding new retention-driving hooks to persuade users to return to the service, such as ensuring that users of the Instagram app can view crucial Threads.
The executives’ remarks came a day after Meta astounded investors with a bright revenue growth estimate, signaling a company’s comeback after facing intense criticism for its big investment in the metaverse last year as ad sales plunged.
On the conference call, Zuckerberg expressed his belief that the company’s work on the augmented and virtual reality technologies that will power the metaverse was on pace rather than significantly ahead of schedule.
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Investing in Future Technologies
Given their years of experience developing operating systems for current goods, competitors like Apple, Google, and Microsoft, he continued, Meta needed to start investing in that effort before them.
The introduction of the Llama 2 artificial intelligence model by the business this month, which it made freely available for commercial usage to any developer whose services had fewer than 700 million users, was another noteworthy development mentioned by Zuckerberg and Cox.
In the week since it was made available, the model has gotten more than 150,000 download requests, according to Cox.
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