Tech News Summary:
- Meta, the parent company of Instagram and Facebook, is developing a new text-based social network to compete with Twitter.
- The platform, currently known as P92, could allow users to follow accounts they already follow on Instagram and potentially bring followers from decentralized platforms like Mastodon.
- If even 25% of Instagram users can be persuaded to use P92 when it launches, it will instantly become bigger than its oldest rival.
In a recent announcement, Meta, formerly known as Facebook, has announced its intention to take on Twitter in a battle for social media supremacy. With a user base of 2.91 billion people, Meta has long been the dominant player in the social media market, but Twitter has remained a formidable competitor, particularly in the realm of real-time news and information sharing.
The move comes on the heels of Meta’s recent rebrand and major corporate restructuring, which saw the company split into three distinct branches – Meta, Instagram, and WhatsApp. The company is now looking to expand its offerings and cement its position as the go-to platform for all things social media.
Twitter, for its part, has been struggling to keep up with Meta’s dominance in recent years. The platform has seen user growth stagnate and has struggled to turn a profit, with only a fraction of the advertising revenue generated by its larger rival.
But with its focus on real-time updates and breaking news, Twitter continues to have a loyal following among journalists, politicians, and other public figures. It also recently introduced a new subscription service called Twitter Blue, aimed at providing additional exclusive features for power users.
The battle for social media supremacy is sure to be fierce, with both Meta and Twitter vying for the attention of users around the world. Only time will tell which platform will emerge victorious, but one thing is for certain – the competition is just getting started.