Meta exploring plans for Twitter rival

Meta Platforms Inc (META.O) is exploring plans to launch a new social media app in its bid to displace Twitter as the world's "digital town square".

"We're exploring a standalone decentralized social network for sharing text updates. We believe there's an opportunity for a separate space where creators and public figures can share timely updates about their interests," a Meta spokesperson told Reuters in an emailed statement.

Meta's app will be based on a similar framework that powers Mastodon, a Twitter-like service that was launched in 2016.

A Twitter-like app would allow...