Meta search strategy for Twitter competitors

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Meta Platforms Inc is exploring plans to launch a new social media platform in its bid to position Twitter as the world’s “digital brand”.

“We are exploring a unified network for sharing text information. We believe there is an opportunity for a different space where creators and the public can share the latest information about their content. love it,” a Meta Reuters spokeswoman said in an emailed statement.

Meta’s app will be based on a similar platform that powers Mastodon, a Twitter-like service launched in 2016.

A Twitter-like app allows Meta to take advantage of the current turmoil in the company led by Elon Musk, which has increased the cost reduction.

Twitter has been struggling to hold on to its social media platform since Musk took over the platform at the end of last year. Companies have pulled the plug after Twitter’s move to restore temporary accounts and release a verification of payment accounts that resulted in fraudsters impersonating companies.

Meta’s plans come at a time when its biggest platform, Facebook, is struggling to attract the attention of a younger audience, but its investments in the metaverse, a virtual world of interactions have users and work, showing little signs of payment, at least. in the near future.

His video sharing program, Instagram, is also facing tough competition as people who make content or troublemakers have abandoned the platform for TikTok.

It was not immediately clear when Meta will release the new app.

“Meta’s history is that they’re getting better than they are as newcomers or developers … as far as copying Twitter, it’s just a defense,” Thomas said. Hayes, the chairman and owner of Great Hill in New York. Capital.

“They are trying everything … at least with a mini blogging site like Twitter, there is a hope that can start making money from a much faster timeline than the fashion metaverse. money.”

Meta’s investments in the metaverse will not increase returns until 2030, analysts said.

Meta shares hit a high of $181.7 in early trading on Friday. They have gained about 51% so far this year.


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