The daily business briefing: July 11, 2023

Threads hits 100 million sign-ups, Prime Day arrives, and more

A PrimeDay logo on a smartphone screen
Amazon's annual 48-hour Prime Day sales event is on Tuesday and Wednesday
(Image credit: Omar Marques / SOPA Images / LightRocket via Getty Images)

1. Threads hits 100 million sign-ups

Threads, Meta's Twitter competitor, hit 100 million sign-ups over the weekend, Meta CEO Mark Zuckerberg announced on Monday, less than a week after its launch. Zuckerberg said it is "mostly organic demand," as the company hasn't "turned on many promotions yet." Twitter does appear to be taking a hit — online activity tracker SimilarWeb found that on the first two full days Threads was available, Twitter traffic was down 5% compared to the same two days of the previous week. Looking at year over year numbers, traffic was down 11%. Twitter said that in June, it had about 535 million monthly active users. Threads users must also have an Instagram account, and Meta said the platform has more than 2 billion monthly users.

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