The Signal messaging app has seen a rise in downloads ever since WhatsApp announced its new privacy policies. WhatsApp, currently owned by Facebook, in its new privacy terms, has the right to share users’ data, including phone numbers and location, something that many people have not liked. In response to these terms that privacy advocates are questioning, many users have now shifted to Telegram and Signal, as suggested by these advocates. To cater for the new users, Signal has since then added more servers. Additionally, WhatsApp has had a decline in downloads of 7%, while the number of people installing Signal daily is about to exceed 1 million.
About 810,000 users globally installed Signal on Sunday, nearly 18-fold compared with the download numbers on Jan. 6, the day WhatsApp updated its privacy terms, according to data from research firm Apptopia.
Privacy advocates have questioned the move citing Facebook’s track record in handling user data, with many suggesting users to migrate to platforms such as Telegram and Signal.Reuters
A tweet by Elon Musk, “use Signal,” that was intended to suggest the app to many people ended up getting misunderstood. People went ahead and bought shares in a technology component manufacturing company in Texas, Signal Advance. Interestingly, this company has no connection with the messaging app nor Tesla CEO Elon Musk’s tweet.
Investors and fans of the South African billionaire quickly bought shares of Signal Advance instead, a technology component manufacturing company headquartered in Rosharon, Texas which trades under the ticker SIGL on over-the-counter markets but has no relationship to the messaging app or Musk himself.
Prior to Musk’s tweet, shares of Signal Advance hadn’t climbed above 60 cents. Due almost entirely to investor signals being crossed (sorry), the stock closed at $3.76 on Jan. 7, and $7.19 on Jan. 8. Momentum accelerated even further yesterday, pushing the closing price to $38.70, an increase of 6350% over three trading sessions.Quartz