metaplatforms Instagram plans to launch its branded content tools subjectsAxios reported on Tuesday, citing a source familiar with the matter.
Such tools will help marketers collaborate with influencers through paid partnerships on the social media platform while no advertising is available.
Metathe parent of Facebookdid not immediately respond to a Reuters request for comment.
The news follows Threads, which is widely considered to be Elon Musk’s rival Twitterand reached 100 million users in a record five-day period.
Meta CEO Mark Zuckerberg has said that the company would not consider monetizing threads until there was a clear path to 1 billion users.
Instagram allows users to port their accounts, credentials, and followers to Threads, giving the text-based social media platform access to the photo-sharing platform’s more than two billion user base.
Several companies have already started setting up accounts on Threads to publish content organically, despite the lack of advertising on the platform.
However, the lack of hashtags and keyword search capabilities in threads could limit the platform’s appeal for advertisers.
Meanwhile, Twitter claim That Meta Platforms stole trade secrets to create its new microblogging site could be the first salvo in a legal battle between the social media giants, but experts say Twitter faces a steep hurdle before it sues.
In a letter sent Wednesday, Twitter claimed that Meta used its trade secrets to develop its new social media platform, Threads, and demanded that the company stop using that information. Twitter said Meta hired dozens of former Twitter employees, many of whom had “unlawfully” retained devices and documents from the company, and that Meta “deliberately” hired them to work on Threads.
It was unclear if a lawsuit would be filed.
A Twitter spokesman did not immediately respond to a request for comment. Meta spokesperson Andy Stone said in a Threads post Thursday that no one on the site’s engineering team is a former Twitter employee.
© Thomson Reuters 2023
(This story was not edited by NDTV staff and is auto-generated from a syndicated feed.)
