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Twitter CEO Musk says user signups at all-time high, touts features of "everything app"

Stock Markets Nov 27, 2022 12:35PM ET
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© Reuters. FILE PHOTO: An image of Elon Musk is seen on a smartphone placed on printed Twitter logos in this picture illustration taken April 28, 2022. REUTERS/Dado Ruvic/Illustration//File Photo
 
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(Reuters) - Twitter Inc (NYSE:TWTR) Chief Executive Elon Musk says new user signups to the social media platform are at an "all-time high", as he struggles with a mass exodus of advertisers and users fleeing to other platforms over concerns about verification and hate speech.

Signups were averaging over two million per day in the last seven days as of Nov. 16, up 66% compared to the same week in 2021, Musk said in a tweet late on Saturday.

He also said that user active minutes were at a record high, averaging nearly 8 billion active minutes per day in the last seven days as of Nov. 15, an increase of 30% in comparison to the same week last year.

Hate speech impressions decreased as of Nov. 13 compared to October of last year.

Reported impersonations on the platform spiked earlier this month, before and in wake of the Twitter Blue launch, according to Musk.

Musk, who also runs rocket company SpaceX, brain-chip startup Neuralink and tunneling firm the Boring Company, has said that buying Twitter would speed up his ambition to create an "everything app" called X.

Musk's "Twitter 2.0 The Everything App" will have features like encrypted direct messages (DMs), longform tweets and payments, according to the tweet.

In another tweet early on Sunday, Musk said he sees a "path to Twitter exceeding a billion monthly users in 12 to 18 months."

Advertisers on Twitter, including big companies such as General Motors (NYSE:GM), Mondelez (NASDAQ:MDLZ) International, Volkswagen AG (OTC:VWAGY), have paused advertising on the platform, as they grapple with the new boss.

Musk has said that Twitter was experiencing a "massive drop in revenue" from the advertiser retreat, blaming a coalition of civil rights groups that has been pressing the platform's top advertisers to take action if he did not protect content moderation.

Activists are urging Twitter's advertisers to issue statements about pulling their ads off the social media platform after Musk lifted the ban on tweets by former U.S. president Donald Trump.

Hundreds of Twitter employees are believed to have quit the beleaguered company, following an ultimatum by Musk that staffers sign up for "long hours at high intensity," or leave.

The company earlier in November laid off half its workforce, with teams responsible for communications, content curation, human rights and machine learning ethics being gutted, as well as some product and engineering teams.

(This story has been corrected to replace the inaccurate word "impersonations" in paragraph 4 with "impressions")

Twitter CEO Musk says user signups at all-time high, touts features of "everything app"
 

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Comments (16)
First Last
First Last Nov 27, 2022 7:18PM ET
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There is even LESS reasons to trust TWTR's user numbers now that Musk brought it.
Jason Moreira
Rolln Nov 27, 2022 4:10PM ET
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Owning a tesla is now embarrassing because of musk
BD
BD Nov 27, 2022 4:10PM ET
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Agreed. People are boycotting Tesla products now.
Stephen Fa
Stephen Fa Nov 27, 2022 1:36PM ET
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I'd never buy another GM car again anyway.
ZS Beck
ZS Beck Nov 27, 2022 11:21AM ET
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Boot sings up an all-time high. Load of BS, just trying to promote
Doug Wildman
Doug Wildman Nov 27, 2022 10:44AM ET
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Count me among the deactivated.
Cliff Charette
Cliff Charette Nov 27, 2022 10:44AM ET
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Why?
Peter Smash
Smashbro Nov 27, 2022 10:44AM ET
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Who cares?
Dan Alden
Dan Alden Nov 27, 2022 10:43AM ET
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Musk for President
Brad Albright
Brad Albright Nov 27, 2022 10:43AM ET
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@You've demonstrated a lack of knowledge.
Stephen Fa
Stephen Fa Nov 27, 2022 10:43AM ET
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Spoken by the almighty judgment of B1ble Brad lol.
First Last
First Last Nov 27, 2022 10:43AM ET
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Stephen Fa   Elon was born in South Africa.
Brad Albright
Brad Albright Nov 27, 2022 10:43AM ET
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@Bigot Fa: The Constitutional requirements for US president are not subject to my judgement.
madolla mjunky
madolla mjunky Nov 27, 2022 9:12AM ET
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there has been lose of money lately
Peter Andersen
Peter Andersen Nov 27, 2022 8:25AM ET
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Uhhh musk is losing alot of money the biggest payers carmakers and other big companies have left Twitter its look bad for the hipster
Brad Albright
Brad Albright Nov 27, 2022 8:16AM ET
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Uh, huh. And what is the rate of account deactivations?
Maximus Maximus
Maximus Maximus Nov 27, 2022 8:13AM ET
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he's doing a trump and just flat out lie to look more popular than he is
 
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