Meta’s app will be based on a decentralized framework like Mastodon, a Twitter-like service that was launched in 2016 and now has about 2 million monthly active users
“We’re exploring a stand-alone decentralized social network for sharing text updates. We believe there’s an opportunity for a separate space where creators and public figures can share timely updates about their interests,” a Meta spokesperson told Reuters in an e-mailed statement.Meta, which saw user growth boom after the acquisition of Instagram and WhatsApp in the early 2010s, has of late faced intense competition from Chinese short-video app TikTok.
Meta’s monthly active users for its family of apps grew 4.2 per cent in the December 2022 quarter, compared with 8.8 per cent growth a year earlier. “It is a strategy to dominate all spaces under the social media and have offerings that cover all use-cases and demographics,” said Jehil Thakkar, Partner, Deloitte India.
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