According to sources who spoke to the BBC, Meta has shown staff plans for a text-based social network meant to rival Twitter.
Users might be able to follow accounts they already follow on Meta's photo-sharing app, Instagram.
Additionally, it might enable them to attract followers from decentralized platforms like Mastodon.
The BBC received confirmation from a Meta spokesperson that the platform was under construction.
They stated, "We're investigating a standalone decentralized social network for exchanging text updates.
We think there is a need for a separate platform where celebrities and creators can post timely updates about their interests. ".
Chris Cox, the chief product officer at Meta, said that platform development was underway. Although no specific date was provided, the tech giant hopes to release it soon. Some people think it might happen as soon as the end of June.
Online screenshots that were shown to staff members internally may have provided an idea of how the app will appear.
The BBC has been informed by company sources that these stolen screenshots are real. If so, anyone who has used Twitter will be familiar with the design of this new platform.
The text-based network, whose working name is P92, may end up being more of a Twitter competitor than either BlueSky or Mastodon.
While both have drawn users who are tired of Twitter, it can be challenging to build a community from scratch on a new social network.
But Instagram has a sizable user base. Meta claims to have around two billion users, far exceeding the estimated 300 million users of Twitter, even though its numbers are no longer verifiable.
If only 25% of Instagram users can be persuaded to use P92 (which, when it launches, will undoubtedly have a sexier name), it will quickly surpass its more established competitor in size.
Although others may not be as complimentary, Meta claims that it draws "inspiration" from other products. For example, Reels on Instagram and Stories on Facebook both blatantly resemble TikTok.
Since its platform moderation has come under fire in recent months, Twitter withdrew from the EU's voluntary disinformation code in May.
According to reports, Twitter moderation has decreased under Mr. Musk, which critics claim has allowed misinformation to spread more widely.
However, Mr. Musk claims that since he took office in October 2022, there has been "less misinformation rather than more."
