Facebook owner Meta Platforms Inc (NASDAQ:FB) will release a text-based app similar to Twitter Inc (NYSE:TWTR) on Thursday as rivalry grows between the two firms’ bosses.
Known as Threads, the Instagram-linked app will be released in the US on Thursday, offering users the chance to post written and conversational content, much like Twitter.
“Threads is where communities come together to discuss everything from the topics you care about today to what'll be trending tomorrow,” the App Store’s description reads.
New Twitter Rival? Threads by Meta
Set to launch on July 6th pic.twitter.com/WEI4kVhSVQ
— Nu Brave (@NuBraveIN) July 4, 2023
Technology giants Mark Zuckerberg and Elon Musk have been virtually sparring in recent weeks, after the two seemingly agreed to a cage fight in June.
Twitter owner Musk had said he was “up for” the fight, with Meta boss Zuckerberg responding, “send me a location”.
Responding to news of Threads’ upcoming release, Musk tweeted “thank goodness they're so sanely run”.
Twitter has faced its own issues lately though, with Elon Musk limiting the number of posts users can see over the weekend in a bid to stop “data scraping” by artificial intelligence firms.
Musk is also in the midst of efforts to monetize and shore up revenues at Twitter, with areas of the social media site increasingly being placed behind paywalls.
Meta’s Threads app will already be linked to hundreds of millions of existing Instagram accounts meanwhile, marking a new threat to Musk’s Twitter efforts.