Meta revealed it will release a standalone app to compete with Elon Musk’s Twitter at an all-hands meeting led by chief product officer Chris Cox on Thursday, people familiar with the matter told The Wall Street Journal.
Twitter has struggled in the wake of Musk’s takeover, with advertisers pulling out amid significant issues including the rise of hate speech. Sixty percent of Twitter users say they’ve “taken a break” from the platform in the past year, according to a study from the Pew Research Center.
Cox told Meta employees that creators and public figures told the company they want a “sanely run” platform; Meta is discussing commitments to the app with Oprah Winfrey and the Dalai Lama. Meta strives to launch the app, internally code-named Project 92, “as soon as we can,” per the WSJ.
Meta chief executive Mark Zuckerberg also spoke at the meeting, noting that Apple’s recently announced $3,500 Vision Pro headset doesn’t provide any “magical solutions” and is less “accessible” and “affordable” than Meta’s version of the product. Meta’s Quest 3 is expected to hit the market this fall and start at $499.
Zuckerberg also touched on the company’s extensive generative AI efforts, which include LLM-based “agents” with different personas for Messenger and Whatsapp.
Meta Platforms Inc is up nearly 44% year over year.