Zuckerberg will launch a competitor to Twitter

According to sources, Meta (NASDAQ:META) Platforms plans to release a text-based application that competes with Twitter (NYSE:TWTR) as early as June, according to Reuters.

The company is currently testing the product with influencers and digital content creators, according to the report. Meta also reached out to several high-profile personalities and talent agencies to gauge their interest in an early version of the app that will integrate with Instagram.

The new decentralized application is based on the Instagram platform, but will be compatible with other applications such as Mastodon.