Meta Platforms Inc is planning to launch a new Twitter like application. By which Elon Musks twitter could soon face the competition in the market. Meta spokesperson in Friday said in a statement, “We are exploring a standalone, decentralised social network for sharing text updates”. Shortly after billionaire Elon Musk took control of the firm in October last year, the worries about the lack of moderation of obscene or otherwise inappropriate information, Twitter started to experience outages, layoffs, and a rapid flight of advertisers.Twitter downsized from more than 7000 employees to 2,300 across the globe and the mass layoffs began with the firing of Chief Executive Officer Parag Agarwal as well CFO and other big rank employees.Meta spokesperson in a statement said, “We believe there is an opportunity for a separate space where creators and public figures can share timely updates about their interests.” He also said that the corporation did not have much information about the platform but it is been given a code name “P92”.Reportedly, the new Meta application will work on the same framework that powers Mastadon, twitter like service that launched in 2016 and witnessed a boom in the popularity since Elon Musk took Twitters control in last October. Meanwhile, Meta just adopted another strategy from Musks Twitter playbook. Last month, the internet giant launched Meta Verified, a membership club for Facebook and Instagram users that includes a verified blue check-mark badge (similar to Twitter Blue) and other benefits.The Meta spokesperson said that they believe that there is an opportunity for a separate space where creators and public figures can share timely updates about their interests. It is been informed that Metas Twitter rival will be Instagram-branded and will allow users to register or login to the app through their Instagram credentials.Facebook is the most popular social networking site with around 2.9 billion active users every month.What is Meta VerifiedMark Zuckerburg launched the service Meta Verified is a paid subscription that will include access to features like live chat support, increased visibility, and a blue check mark. The company initially started the service in Australia and New Zealand, with the announcement to launch soon in other countries. Meta verified is launched at the price of USD 11.99 per month for the web and USD 14.99 per month for Apple iOS.More lay-offs by MetaMeta is planning for more cut off in the coming months. The announcement is expected to come by next week, which will hit the non-technical people in the company. According to the information the layoffs would be in the same percentage that happened last year. they are expected to be 11,000 this time also. Some project teams are also to be shit down in this round. Last year, Facebook announced that they will let go the 13 percent of the workforce, as a part of the plan to cut the cost due to disappointing earnings, soaring costs and a weak advertising market.Since a month ago, there have been numerous reports of layoffs. It was revealed that the corporation intended to fire thousands of employees earlier in February. According to a report, the organisation intended to reduce the distance between its interns and top manager Mark Zuckerberg by moving some executives into lower-level positions without direct reporting. According to persons familiar with the situation said that the business is preparing to fire hundreds more employees as early as this week.After several rounds off layoffs, Twitter is also running out of workforce. Allegedly leaving it vulnerable to outages, as well as disinformation and harmful content.
