Facebook parent company Meta Platforms Inc. is looking into creating a new social network that could be a direct competitor to 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 Fox Business in an emailed statement.
Moneycontrol.com first reported the news, citing sources.
That report said Meta's new app – codenamed P92 – would support ActivityPub. ActivityPub is a decentralized social networking protocol that powers Mastodon and other federated apps.
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Furthermore, the new app would have Instagram's branding, allowing people to log in using the same account information, according to the report.
Platformer reported that it would be overseen by Instagram head Adam Mosseri.
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Moneycontrol.com said it had seen a copy of an internal product brief that details the functioning and various product features of the app, but that it was not clear whether development had begun, though noting a source said it is still in progress.
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A feature, a source told the outlet, would allow the app to "broadcast posts to people on other servers."
Reuters contributed to this report.
