Meta

Introduction

Meta Platforms, Inc., formerly known as Facebook, is a famous social media company. Its headquarters is in Menlo Park, California. It was renamed in 2021 as the company shifted its focus toward building the metaverse, a digital universe blending social media, virtual reality (VR), and augmented reality (AR). Meta includes Facebook, Instagram, WhatsApp, and Threads, which collectively serve billions of users worldwide. Its primary revenue source is advertising, which generates almost 97.8% of its income. Meta continues to innovate, investing heavily in VR, AR, and AI technologies in 2024 to hold a tight grip on social media.

History & Milestones

Mark Zuckerberg and his Harvard peers founded Meta in 2004 as Facebook, a social networking platform. It worked on its expansion as it acquired Instagram in 2012 and WhatsApp in 2014. The company rebranded as Meta in 2021, showing its commitment to the metaverse. Its key milestones include the launch of Oculus VR headsets, the introduction of Meta Quest devices, and significant investments in AR and AI. Meta collected $160 billion in revenue in 2024.

Product & Services

Meta offers many products and services, written below:

Business Model & Strategy

Meta’s business model revolves around targeted advertising, using user data to help businesses reach specific audiences. Its strategy focuses on expanding the metaverse, investing in VR and AR technologies, and increasing user engagement across its platforms. Meta is committed to build a connected digital social media lattice.

Market Presence & Financials

Meta reported $164.50 billion in revenue in 2024, a 22% increase from the previous year. Its net income surged to $62.36 billion. It shows its strong financial performance. The company’s platforms facilitate around 3.9 billion monthly active users.  Meta’s stock (META) closed at $677.89 in after-hours trading on January 28, 2024, which indicates investor confidence.

Leadership & Culture

Mark Zuckerberg is the founder, Chairman, and CEO of Meta. Javier Olivan (COO), Susan Li (CFO), and Andrew Bosworth (CTO) are executive officials of Meta. The company adapts innovation and encourages employees to experiment and take risks. However, it has faced criticism over workplace practices and transparency, prompting efforts to improve employee satisfaction.

Controversies & Challenges

Meta has encountered numerous controversies, including privacy breaches, misinformation, and content moderation issues. Regulatory scrutiny and antitrust lawsuits have also posed challenges. However, the company continues to invest in safety measures and transparency initiatives to rebuild trust with users and regulators.

Future Outlook

Meta’s future is metaverse, with plans to create better digital experiences through VR and AR technologies. The company aims to integrate its platforms into a digital web to attract new users with different approaches. Meta is on a mission to capture the whole social media market worldwide.