Threads, Meta’s new platform, is doing well and Meta CEO Mark Zuckerberg said the app currently has “just under” 100 million monthly active users. More importantly, he thinks there’s a “good chance” the app could reach one billion users in the next couple of years.

“I thought for a long time, there should be a billion-person public conversations app that is a bit more positive and I think that if we keep at this for a few more years, then I think we have a good chance of achieving our vision there,” he said during the company’s quarterly earnings call.

Meta CFO Susan Li too is optimistic. “Threads also remains a compelling long-term opportunity, and we’re excited to build on the strong product momentum we have going into next year,” she said during the call.

Threads launched only in July and in the last few months, a host of new features have been added, including a web app and an edit feature that you don’t have to pay for. Though Threads is currently unavailable in Europe because of regulatory issues, Instagram chief Adam Mosseri has said that he’s “hoping we can land support for Europe, early Fediverse progress, better Instagram integrations, and trends in the next few months”.

The app saw 100 million sign-ups in its first week and it’s attracting users from X. During the earnings call, Meta reported just over $34 billion in revenue for the quarter, a 23 per cent increase from last year. The only area of concern is the amount of cash being burnt with its Reality Labs division and the company expects its operating losses there to increase “meaningfully” year-over-year.