Meta, the company that owns Facebook, announced on Friday that it is developing a new social media platform for sharing text updates. The project is being seen as a potential rival to Twitter, which has suffered outages, layoffs, and lost advertisers since billionaire Elon Musk’s takeover in October. The new platform is expected to offer a decentralized and standalone space for creators and public figures to share timely updates about their interests. According to media reports, the app will use technology that allows it to be interoperable with niche network Mastodon and other platforms, breaking away from usual tech giants’ practice of keeping platforms behind technological walls. In December, Musk briefly banned Twitter accounts that provided links to other social media platforms, including Facebook, Instagram, and Mastodon.