Meta, the parent company of Facebook and Instagram, is reportedly working on a new text-based social network to rival Twitter.

The proposed platform, codenamed P92, would allow users to follow accounts they already follow on Instagram and potentially import followers from decentralized platforms like Mastodon.

The company believes there is an opportunity to create a separate space where creators and public figures can share timely updates about their interests.

While no specific release date was provided, Meta aims to launch it soon, with speculation suggesting it could be as early as the end of June.

Leaked screenshots of the app’s interface have surfaced online and have been confirmed as genuine by sources within the company. 

The layout resembles Twitter’s, making it familiar to users accustomed to the popular microblogging platform.

The potential impact of Meta’s text-based network should not be underestimated. 

With approximately two billion users on Instagram alone, Meta’s new platform could attract many users, potentially surpassing Twitter’s estimated 300 million users.

This development came when Twitter faced criticism regarding moderation practices, prompting the platform to withdraw from the EU’s voluntary disinformation code in May. 

Under the leadership of Elon Musk, Twitter’s moderation is said to have been reduced, leading to concerns about the spread of misinformation. 

However, Musk argues that there is now ‘less misinformation rather than more’ since he assumed control in October 2022.

While Meta draws inspiration from existing products, such as Snapchat’s Stories and TikTok’s Reels, its foray into a text-based social network presents a unique challenge to Twitter’s dominance in the microblogging space. 

The success of Meta’s P92 will likely depend on its ability to leverage the vast user base of Instagram and provide an appealing alternative for creators and public figures seeking a dedicated platform for sharing updates.