Meta, the owner of Facebook and Instagram, is planning to launch a Twitter-like short text application called Threads. The announcement comes just a few days after Twitter CEO Elon Musk announced a temporary limit on how many posts users can read on the social network.

This new social network, according to "Reuters", is due to be launched this Thursday and will allow users to follow the accounts they already follow on Instagram and keep the same username.

Threads was originally the name of a 2019 Meta app to compete with Snapchat. The product was later abandoned, but Meta kept the name.

With this new social network, Meta now joins a growing field of platforms competing to replace Twitter since Musk took control at the end of last year and has limited the user experience.

The new social network comes just a few days after Elon Musk's latest restriction. Over the weekend, the owner of the social network temporarily imposed daily limits on the number of posts a user can read.