Meta, the parent company of Instagram and Facebook, announced it’s considering launching a new Twitter-like social media website, Variety reported.
“We’re exploring a standalone, decentralized social network for sharing text updates,” a Meta spokesperson said in a statement to the publication. “We believe there’s an opportunity for a separate space where creators and public figures can share timely updates about their interests.”
The news of a potential new social media website from Meta was first reported by Money Control, which revealed that the project has been codenamed “P92.”
The new social media website would be powered by the same framework as Mastodon, another Twitter-like service. Mastodon grew in popularity after Elon Musk took over Twitter, prompting many users to leave the app for similar alternatives.
Additional details about the new social media website weren’t avaliable.
Under Musk, Twitter has seen many changes to the user experience and to the company internally. About half of the company’s staff of 7,500 was let go soon after Musk took over the company in November.
Many employees weren’t formally notified and only became aware they had been let go once they tried to log into company devices and were denied access.
Musk has also changed the Twitter verification process by only allowing users to become verified if they purchase a Twitter Blue subscription.
Other social media sites, like Facebook and Instagram, have announced plans to roll out similar services.