NEW DELHI:  Elon Musk's acquisition of Twitter has increased Twitter's market share by 55.8%, while Facebook's share has decreased by 11.86% through November across desktop and mobile devices globally, a new report has said.

A breakdown of the market share provided by Finbold suggests that Facebook started the year with a share of 76.85% while it was at 67.73% in November. In contrast, Twitter's market share increased from 7.16 percent in January to 11.16 percent as of November.

Both platforms have seen changes in market share in recent months, although Twitter seems to be growing faster than the other options due to continuous internal administrative adjustments.

"According to the data, Facebook continues to be the most popular social media site, while Twitter is gaining market share. The acquisition of Twitter by Tesla CEO Musk, who has already started implementing various changes at the company, coincided with a rise in Twitter's share price, the research revealed.

It's interesting to note that according to internal reports, which Elon Musk has also corroborated, Twitter's daily user growth reached a record high during the first full week of Musk's leadership.

According to the Finbold, "The performance tends to allay initial concerns that Twitter would experience a huge exodus of users with Musk's takeover."

It is possible to infer that Musk has manipulated the numbers based on market share data collected during the year. For example, the share price jumped in May when the transaction was first announced but then looked to fall after Musk initially backed out.

Twitter's success can be linked to factors like updating the design in addition to the Musk factor and pledges to make changes.

It's interesting to note that Twitter has already been under fire for imitating Facebook, especially after the launch of Fleets, which are similar to Facebook's stories. Due to a lack of user interest, Twitter was forced to shut down the service, according to the article.

At the same time, increased competition from more recent social media sites like TikTok has reduced Facebook's market share.

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