Meta works on a Twitter rival

The parent company of Facebook and Instagram, Meta, is studying the possibility of creating a competing application to Twitter, revealed this Friday the MoneyControl specialized site . This new platform, currently codenamed P92, would also allow users to post messages in text form.

Meta confirmed this information in an email to the Reuters news agency: “We are exploring an autonomous decentralized social network for sharing text updates. We believe there is an opportunity for a separate space where creators and public figures can share timely updates on their interests,” a Meta spokesperson said.

An unknown stage of development

This new app would be launched under the Instagram brand and will allow users to register and login directly with their Instagram credentials. Their profile will also be auto-populated with Instagram bio, name, and featured images and videos, according to information from MoneyControl.

The application would thus resemble Mastodon, an app which recently welcomed new followers, former Twitter users disappointed by the turn that the platform takes following the decisions of Elon Musk . Like her, P92 will be decentralized, meaning users can set up their own servers and set their own content moderation rules. Whether users will be able to follow each other, like on Twitter, remains to be seen. The development stage of the application is still unknown and no launch date has yet been specified.

Meta struggling against competition from TikTok

Meta Group, which saw its user numbers explode after acquiring Instagram and WhatsApp in the early 2010s, has recently faced intense competition from Chinese short-video app TikTok. . The number of monthly active users of Meta’s family of applications increased by 4.2% in the December 2022 quarter, compared to growth of 8.8% a year before.

After the introduction of a new feature to add “Notes” in the Instagram application, Meta is once again looking to compete with Twitter, according to several observers. “It’s a strategy to dominate all social media spaces and deliver offerings that span all use cases and demographics,” said Jehil Thakkar, partner at Deloitte India.

With Reuters