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Meta Platforms is concentrating on improving user retention for its new app, Threads, after a significant drop in users following its launch. Meanwhile, the company continues to invest in developing the metaverse and has recently released an artificial intelligence model, Llama 2, for free commercial use.
Threads User Retention Challenge: Meta Platforms is strategizing to retain users on its new app, Threads.
Despite losing more than half its users post-launch, the app's user retention has exceeded initial expectations.
CEO Mark Zuckerberg regards this drop-off as "normal" and anticipates user retention will improve as new features are added to the app.
These potential features include a desktop version and search functionality.
Additional "retention-driving hooks" are being considered, like increasing visibility of important Threads on Instagram.
Positive Revenue Growth Forecast: The company's promising revenue growth forecast has attracted investors.
Meta's forecast served as a positive sign following previous skepticism due to the company's heavy spending on the metaverse as ad sales fell.
This announcement led to an 8% surge in Meta's shares.
Metaverse Development: Meta continues to invest in augmented and virtual reality technology for the metaverse.
Zuckerberg believes the company's metaverse development is on track, but not significantly ahead of schedule.
The company is investing early in this technology to stay ahead of rivals like Apple, Google, and Microsoft.
Zuckerberg predicts widespread adoption of metaverse technologies will happen in the 2030s.
Release of Llama 2 AI Model: Meta recently launched an artificial intelligence model, Llama 2, available for free commercial use.
This offering is available to any developer with services having fewer than 700 million users.
The model has received more than 150,000 download requests within a week of its release.