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Meta

Overview
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Financials

Meta (NASDAQ:META) is the holding company for a collection of social media apps and other services, including Facebook, Instagram, and WhatsApp. Meta is the largest listed social network company and is one of the Big Five tech firms (GAMAM). Meta generated USD 134.9 billion in revenue in 2023. After the creation of Facebook in 2004, it made its IPO in 2012—the largest tech IPO in the US. In June 2021, the firm reached a market cap of over USD 1 trillion, ranking amongst the top 10 companies in the US. In October 2021, Facebook rebranded as Meta to signal its heightened focus on the metaverse.

Meta is best known for its social networking service Facebook, which had more than 2 billion daily active users by the end of 2023 and remains the world’s largest online social network, accounting for ~64% of the market share in the US. The firm also launched its messaging service Facebook Messenger in 2011. Through a series of acquisitions, the firm expanded its “Family of Apps”—most notably by acquiring Instagram (in April 2012) and WhatsApp (in February 2014). The firm also has a presence in the consumer hardware space, most notably the Oculus Quest, a virtual reality (VR) headset launched in 2019, accounting for over 90% of the VR headset market. The firm is also an early proponent of the metaverse and in December 2021, launched Horizon Worlds, a VR world for the Meta Quest headset.

Meta had more than 3 billion monthly active global users across its Family of Apps by the end of 2023, with around 39% of its revenue accounted for by the US and Canada. In recent years, the firm’s core ad revenue business has been facing challenges due to stricter consumer privacy regulations. Therefore, in the short run, the firm has focused on addressing these concerns through investments in next-gen AI and automation. However, in the long term, following the establishment of a dedicated business division (Reality Labs) as well as significant capital investments planned for developing VR headsets and other metaverse-related products, the firm intends on expanding into the metaverse space to drive its growth.

HQ Location:
1 Hacker Way Menlo Park CA USA
Founded year:
2004
Employees:
10,000+
Work
Sports & Entertainment
Sales & Marketing
Security
Hospitality & Travel
Financial Services
Health & Wellness
Manufacturing
Information Technology
Pharma & Life Sciences
Generative AI Applications
Generative AI Applications
Foundation Models
Foundation Models
Automated Content Moderation
Automated Content Moderation
Digital Humans
Digital Humans
Remote Work Tools
Remote Work Tools
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EDGE Insights

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Translation Tech
Chatbots
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XR and MEP (Q2 2023): Apple's Vision Pro fuels XR's cautious comeback as metaverse plummets
XR and MEP (Q1 2023): From virtual promise to metaverse hesitation
Q1 2023 tech and retail giants in healthcare: Alphabet dominates; CVS continues purchasing frenzy
Tech and retail giants: Everyone wants a piece of the healthcare pie
Satellite management: The ballooning orbital economy
‘Move fast and break things’: The Meta way to innovate

Recent Updates

Partnerships
Product updates
May 21, 2024
Microsoft and Meta partner for volumetric apps on Quest headsets at Build 2024 conference
Extended Reality
Partnerships
Industry news
May 20, 2024
LG reportedly pauses XR device development partnership with Meta
Extended Reality
Partnerships
Product updates
May 13, 2024
Meta announces new Travel Mode for Quest devices; partners with Lufthansa to supply headsets for flights
Extended Reality
Product updates
May 8, 2024
Meta expands AI image generation offerings for ads
Marketing Automation
Product updates
May 1, 2024
Meta updates Quest headsets with panorama import and improved passthrough features in v65 update
Extended Reality
Product updates
Apr 30, 2024
Instagram updates ranking system to boost smaller creators and original content
Creator Economy
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