Linda Yaccarino is set to officially take over as Twitter CEO by June end.
Linda Yaccarino, the newly-appointed chief executive officer (CEO) of Twitter, has conveyed that she is ready for competition after reports claimed that Meta-owned Instagram is working on a clone of the text-based app. Ms Yaccarino made her intentions clear in a tweet posting a TechCrunch article about Instagram's Twitter clone. The article includes a tweet by Lia Haberman, author of social media newsletter ICYMI, showing what is reportedly a screenshot of the new app. Ms Yaccarino is set to formally take over as Twitter CEO at the end of June.
"Game on!" she tweeted, a week after thanking Elon Musk for handpicking her for the job.
According to a Fortune article, Meta included the screenshot in an email sent to a select group of creators. The company as so far not reacted to these reports.
Ms Haberman said she spoke to the creator who received the email adding that Instagram's Twitter competitor could be released towards the end of June.
It will be a decentralised app "built on the back of Instagram but will be compatible with some other apps like Mastodon", she said in her newsletter.
The leaked details suggest the app will be codenamed P92 or Barcelona, as per Independent.
"We're exploring a standalone decentralised 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," Meta said in a statement to Money Control.
Social media consultant Matt Navarra claimed users will be able to keep their Instagram username, followers and verification on the new app.
Ms Yaccarino, who as advertising chief for Comcast Corp's NBCUniversal spent several years modernising its ad business, said she is committed to Twitter's future, and said user feedback is vital to build Twitter 2.0.
Since Mr Musk acquired Twitter, advertisers have fled the platform, worried that their ads could appear next to inappropriate content after the company lost nearly 80% of staff. Mr Musk earlier this year acknowledged that Twitter had suffered a massive decline in ad revenue.