(Reuters) – Meta Platforms Inc is exploring the possibility of launching a new social network in an attempt to replace Twitter as the global “digital marketplace”.
Meta’s application will work in a decentralized way like Mastodon, a service similar to Twitter launched in 2016 and which now has around 2 million active users per month.
“We are exploring a self-contained, decentralized social network for sharing text-based updates. We believe there is an opportunity for a separate space where creators and public figures can share timely updates on their interests,” said a Meta spokesperson said in a statement emailed to Reuters.
The possible launch date of a new application has not yet been specified.
The 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.
“This is 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.
(Report by Shubham Kalia, Shubhendu Deshmukh and Yuvraj Malik in Bengaluru, French version Victor Goury-Laffont)
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