Meta exploring plans for Twitter rival

Meta, the parent firm of Facebook and Instagram, is working on a standalone, text-based social network app. A Twitter-like app would allow Meta to take advantage of the current chaos at the Elon Musk-led company, where cost-cutting has been rampant. According to MoneyControl, the new app is codenamed P92, and will allow users to log in through their existing Instagram credentials. Meta's app will be based on a similar framework to the one that powers Mastodon, a Twitter-like service which was launched in 2016. Its video-sharing app, Instagram, is also facing stiff competition as content makers or hit influencers abandon the platform for TikTok.

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