Business news from Ukraine

Meta is studying possibility of creating new social network

11 March , 2023  

Meta is exploring the possibility of creating a new social network in which information can be shared, CNN reported, citing a company spokesperson.
“We believe there is an opportunity for a separate space where content creators and public figures can share timely information on their interests,” a Meta spokesperson said in a statement to CNN.
The network notes that the envisioned social network is similar in concept to Twitter.
It is planned that this platform will be decentralized, that is, users will be able to create different servers or communities, each with its own rules, but not one central platform.
U.S. billionaire Ilon Musk bought Twitter for $44 billion last year. The deal, announced in April, was not closed until late October after lengthy litigation between the parties over the disclosure of fake accounts. Since buying the company, Musk has repeatedly stated his intention to respect free speech on the platform.
A number of media outlets have noted that the new platform will be linked to Instagram, allowing users of that social network to access it from their existing accounts.

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