EU Invests €500M in New Social Platform ’W’ as Alternative to X

The European Union is allocating €500 million to launch W, a homegrown social media platform designed to counter US-based giants like Elon Musk's X. The initiative responds to growing concerns in Brussels about foreign influence and misinformation. W will operate under strict EU internet regulations, including mandatory user identity verification.

Backed by political heavyweights and Swedish tech investors, the platform aims to provide a European alternative to American social networks. Former eBay privacy chief Anna Zeiter leads the project, noting W stands for 'We.' A beta version is slated for February release, with full public rollout later in 2024.

The MOVE follows escalating tensions between EU regulators and X over content moderation policies. European tech leaders increasingly view US platforms as potential vectors for Western propaganda, particularly amid geopolitical developments like the Greenland acquisition debate.