According to Mark Zuckerberg, the app has experienced a 50% user decline since its launch
During an internal town hall meeting, Mark Zuckerberg acknowledged that the retention rate of users on the text-based app was better than expected, but still not perfect.
Zuckerberg mentioned that out of more than 100 million sign-ups, a significant number of users didn’t stick around, which he considers normal. However, he expects retention to improve as Meta introduces new features like a desktop version and search functionality.
To address the decline, Meta is exploring additional ways to retain users, such as integrating important Threads into the Instagram app, according to Chris Cox, the chief product officer.
The meeting concluded, but a company spokesperson declined to comment further.
This update comes after Meta impressed investors with a positive revenue growth forecast, indicating a promising comeback for the company after facing doubts over its spending on the metaverse.
Following this disclosure, Meta’s shares surged by 8%.
During the call, Zuckerberg expressed confidence in the progress of augmented and virtual reality technology for the metaverse, remarking that it was on track and not far behind schedule.
Zuckerberg emphasized the need for Meta to invest in this technology ahead of competitors like Apple, Google, and Microsoft, given their experience in building operating systems for existing products. He projected that mass adoption of metaverse technologies would occur in the 2030s.
In addition, Zuckerberg and Cox highlighted the release of Llama 2, an artificial intelligence model that Meta made available for commercial use to developers with fewer than 700 million users. The model has received over 150,000 download requests since its launch.
When asked about the proposed “cage match” against Elon Musk, Zuckerberg expressed uncertainty about whether it would happen.
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