Meta Platforms Inc. is planning to build a new text updates sharing platform, which might be a high-profile competition to twitter, the company told CNN on Friday.
The early stage-platform, codenamed P92, is planned to be decentralized, as users would be able to create different servers or communities each with their own rules, rather than one central platform, a concept similar to Reddit or Discord.
“We believe there’s an opportunity for a separate space where creators and public figures can share timely updates about their interests,” said a Meta spokesperson.
Multiple platforms have attempted to capitalise on Twitter’s recent frequent outages, the return of controversial users and a decline in advertisements.
The new Meta platform has a head start, as it could benefit from the large existing user base of the company’s other platform.
Meta has been applying changes to its older platforms, shifting focus to video and recommended content, as it competes with TikTok.
