It's basically the formulation of a holding company with a bit more fanfare than usual. These billionaires are just rolling in money and any slight diversionary tactics they can use to get a bit of good press (or remove some of the bad) will be jumped on. Nothing really changes, it is just another company that doesn't have any of the reputational damage associated with Facebook, so they might be able to partner with people who won't go near them previously. There are a lot of people around the world that swear off that company and deleted their accounts if they ever had one, that might be tricked back into using an associated company because they all share the same data anyway.