'Signups At All-Time High': Elon Musk Says As He Touts Twitter 2.0 As 'The Everything App'

Musk's "Twitter 2.0 The Everything App" will include features such as encrypted direct messages (DMs), long-form tweets, and payments.

Twitter CEO Elon Musk on Sunday claimed that new user signups are at an "all-time high," as he dealt with a large migration of advertisers and users moving to alternative platforms due to concerns about verification and hate speech.

As of November 16, signups were averaging over two million per day, up 66% from the same week in 2021, Musk stated in a tweet.

He also stated that user active minutes were at an all-time high, averaging approximately 8 billion active minutes per day in the previous seven days as of November 15, a 30 percent increase over the same week last year.

Hate speech impersonations had dropped as of November 13 compared to October of the previous year.

According to Musk, reported impersonations on the network increased earlier this month, both before and after the debut of Twitter Blue.

Musk, who also owns the rocket company SpaceX, the brain-chip startup Neuralink, and the tunnelling company the Boring Company, has stated that acquiring Twitter would accelerate his goal of creating an "everything app" named X.

According to the tweet, Musk's "Twitter 2.0 The Everything App" will include features such as encrypted direct messages (DMs), long-form tweets, and payments.

Musk stated in another tweet that he sees a "path to Twitter exceeding a billion monthly users in 12 to 18 months".

Advertisers on Twitter, including major corporations such as General Motors, Mondelez International, and Volkswagen AG, have suspended advertising as they deal with the new CEO.

Musk stated that the advertiser pullback was causing a "massive drop in revenue" for Twitter, blaming a coalition of civil rights groups that had been pressuring the platform's major advertisers to take action if he did not safeguard content moderation.

After Musk lifted the ban on tweets by former US President Donald Trump, activists are encouraging Twitter's advertisers to release statements about removing their ads from the social media network.

Hundreds of Twitter employees are said to have left the troubled company after Musk issued an ultimatum demanding that employees sign up for "long hours at high intensity" or leave.

Earlier this month, the business let off half of its employees, including teams responsible for communications, content curation, human rights, and machine learning ethics, as well as several product and technical teams.