ESPN is not looking to take over Facebook.
The social media giant has no plans to launch its own network or a new app for users to share news and sports updates, CEO Jack Dorsey told investors during a conference call on Wednesday.
Instead, Dorsey said that he sees the company as “the first big social media company to have a clear vision of what we want to do for the next 10 years.”
Dorsey, who also holds the title of cofounder of the Dorsey brothers, said the company is “still very early” in the social media revolution and that the company “needs to figure out how to be more of a global player in that space.”
He said that his goal is to “really build a product that has all the elements that you would need to grow into an empire.”
The announcement was accompanied by an acknowledgement that the new company will not be using the Facebook-owned WhatsApp messaging service to share content.
It is not clear whether the new social media platform will include other apps such as Instagram, Snapchat or Pinterest.
But Dorsey suggested that the service would include a dedicated app for “the world to come” rather than just for users in the United States and other nations.
Dorseys new social platform will likely focus on “people in a way that has nothing to do with how they use the Internet,” Dorsey acknowledged.
He said Facebook has been working on its own social media product for years and that he expects that the social network will become “a more sophisticated, sophisticated product.”
“We will be in that arena,” Dorseys CEO said.
Doriansey’s comments were echoed by another major investor, Warren Buffett.
“We are seeing great progress,” Buffett said during a call with analysts.
“And so I’m hopeful that we will see great progress with the social platform.”
Dorianys new platform, however, is not likely to be the first.
Twitter announced last year that it would develop its own messaging app, a project that failed to materialize.