Meta Platforms CEO Mark Zuckerberg speaks about the Facebook News feature at the Paley Center For Media in New York on Oct. 25, 2019.Drew Angerer | Getty Images News | Getty ImagesFor months, Meta has been working on a Twitter-like, text-based social media network that would compete with Twitter and the bevy of clone apps that have gained prominence since Elon Musk took Twitter private in 2022. News of the plans have inspired a public spat between Musk and Meta CEO Mark Zuckerberg, culminating in a joking challenge to engage in a physical “cage match” fight in Las Vegas.Meta previously confirmed to CNBC that it was “exploring a standalone decentralized social network for sharing text updates,” but didn’t offer further details on the nature or name of the app.Meta enjoys a significant advantage over upstart competitors like BlueSky or Mastodon, given how many users are already integrated into Facebook and Instagram. It also enjoys longstanding relationships with brands and advertisers which could provide revenue at launch.But given deep cuts to trust and safety teams at Meta and throughout the social media industry, content moderation may prove to be a challenge. Many advertisers fled Twitter after controversial content surged in the
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Musk, Zuckerberg cage match: What to know about Meta's Twitter clone – CNBC
