Instagram prepares Twitter competitor for summer release - Bloomberg News

A keyboard is placed in front of a displayed Instagram logo in this illustration taken February 21, 2023. REUTERS/Dado Ruvic/Illustration

(Reuters) - Meta Platforms' Instagram is planning to release a text-based app that will compete with Twitter and may debut as soon as June, Bloomberg News reported on Friday, citing people familiar with the matter.

The Facebook parent is testing the product with influencers and some creators, according to the report.