Meta, led by Mark Zuckerberg, is moving forward with its plans to launch a Twitter competitor codenamed Project92 and is speculated to be publicly known as Threads.

The new app aims to provide a platform that is "sanely run" and is set to feature public figures like the Dalai Lama and Oprah Winfrey, according to a report by The Verge.

Meta's chief product officer, Chris Cox, mentioned during an internal meeting that Project92 is a "response to Twitter."

Cox highlighted that creators and public figures have expressed interest in a platform they can trust and rely on for distribution, seemingly referring to concerns regarding Twitter's management under Elon Musk.

Meta's CPO reportedly revealed that the company is in discussions with Oprah Winfrey, who has over 42 million Twitter followers, and the Dalai Lama, with nearly 19 million followers, as potential users for the app.

Furthermore, he mentioned that coding for Project92 began in January, and the goal is to make it available as soon as possible.

The report suggests that the app will integrate with ActivityPub, a technology used by Mastodon, a decentralized Twitter alternative. This integration would enable users of the Meta app to migrate their accounts and followers to other apps supported by ActivityPub, such as Threads.

Previous reports indicated that the app would be based on Instagram, allowing users to sign in using their Instagram credentials and transfer their followers, user bio, and verification to the new platform.

Cox emphasized that the app's focus is on safety, ease of use, reliability, and providing creators with a stable environment to build and grow their audiences.

A screenshot of the app shared by The Verge detailed a user interface resembling Twitter, with features like blue verification ticks, profile pictures, and buttons for liking, replying, and retweeting.

Under Elon Musk's leadership, Twitter has faced challenges, though Musk, who is worth $213.5 billion, asserts that the platform's user base has not declined since his acquisition in October.

However, Twitter has encountered financial difficulties due to its reliance on advertising. Issues such as moderation standards and a flawed subscription service relaunch have sparked concerns, leading to an advertiser boycott and a surge in impersonator accounts.

According to The New York Times, Twitter's ad revenues in the first week of May were 59% lower compared to the same period last year, reflecting concerns among advertisers.

Recently, Twitter appointed Linda Yaccarino, a TV advertising executive from NBCUniversal, as its new CEO.