Twitter CEO Musk says user sign-ups are at all-time high, praises “everything app” features

(Reuters) -Twitter Inc Chief Executive Elon Musk says new user signups on the social media platform are “all-time high” as he grapples with a mass exodus of advertisers and users fleeing to other platforms over concerns about verification and hate speech.

As of Nov. 16, there have been an average of more than two million logins per day over the past seven days, a 66% increase compared to the same week in 2021, Musk said in a tweet late Saturday.

He also said that users’ active minutes hit an all-time high, averaging nearly 8 billion active minutes per day in the last seven days as of Nov. 15, up 30% from the same week last year.

The number of impersonations of hate speech decreased on November 13 compared to October last year.

Reported imitations on the platform peaked earlier this month, before and in the wake of Twitter Blue’s launch, according to Musk.

Musk, who also runs rocket company SpaceX, brain-chip startup Neuralink and tunnel construction company The Boring Company, has said buying Twitter would accelerate his ambition to create an “everything app” called X.

Musk’s “Twitter 2.0 The Everything App” will include features such as encrypted direct messages (DMs), long tweets, and payments, according to the tweet.

In another tweet early Sunday, Musk said he sees a “path to Twitter of over a billion monthly users in 12 to 18 months.”

Advertisers on Twitter, including major companies such as General Motors, Mondelez International, Volkswagen AG, have paused advertising on the platform as they grapple with the new boss.

Musk has said Twitter experienced a “massive drop in revenue” from the advertiser pullout, blaming a coalition of civil rights groups for pressuring the platform’s top advertisers to take action if he failed to protect content moderation.

Activists are urging Twitter advertisers to issue statements about removing their ads from the social media platform after Musk lifted former US President Donald Trump’s ban on tweets.

Hundreds of Twitter employees are said to have left the beleaguered company, following an ultimatum from Musk that staffers sign up for “long, high-intensity hours” or leave.

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

(Reporting by Juby Babu in Bengaluru; editing by Kim Coghill)

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