SAN Francisco, California: As he struggles with a mass exodus of advertisers and users switching to other platforms, Twitter Chief Executive Elon Musk says new user signups are at an "all-time high," despite concerns over verification and hate speech.
In a tweet last week, Musk said signups were averaging over two million per day in the last seven days, as of 16th November, up 66 percent compared to the same week in 2021.
Use of Twitter was also averaging nearly 8 billion active minutes per day in the last seven days, as of 15th November, an increase of 30 percent, compared to the same week last year, he added.
Musk said that buying Twitter would speed up his ambition to create an "everything app," known as "X" or "Twitter 2.0 The Everything App," which will have new features, such as encrypted direct messages, long-form tweets and payments.
After Musk's take over, advertisers on Twitter, including big companies such as General Motors, Mondelez International, and Volkswagen AG, have paused advertising on the platform.
As Twitter is experiencing a "massive drop in revenue" from the advertiser retreat, Musk blamed a coalition of civil rights groups for pressuring the platform's top advertisers to take action if he did not protect moderating content.
After Musk lifted the ban on former U.S. president Donald Trump, activists are urging Twitter's advertisers to issue statements about pulling their ads.
After the company laid off half its workforce in November, hundreds of Twitter employees have supposedly quit following an ultimatum by Musk that they should work for "long hours at high intensity" or leave the company.