Mark Zuckerberg‘s Meta has announced that it is exploring plans to launch a new social media app that lets users share character-limited posts to take on Elon Musk‘s Twitter.
‘We’re exploring a standalone decentralized social network for sharing text updates. We believe there’s an opportunity for a separate space where creators and public figures can share timely updates about their interests,’ a Meta spokesperson told Reuters in an emailed statement.
The app’s name is unknown, but it will be based on a similar framework that powers Mastodon, a Twitter-like service launched in 2016.
A Twitter-like app would allow Meta to take advantage of the current chaos at the Musk-led company, where cost-cutting and layoffs have been rampant.
MoneyControl reported Thursday about Meta’s Twitter competitor, stating it is codenamed ‘P92.’
The app would be Instagram-branded, allowing users to register with the same credentials, people familiar with the matter told MoneyControl.
It was not immediately clear when Meta would roll out the new app.
‘The history of Meta is that they are much better acquirers than they are innovators or developers … as far as copying Twitter, this is just a defensive move,’ said Thomas Hayes, chairman and managing member of New York-based Great Hill Capital.
