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1 day ago · Meta Platforms (META) Company Description: Social networking company Facebook, Inc. develops applications that enable people to connect through mobile devices, personal computers, and other devices.
- Overview
- Recent Developments
- What's Happening with the Facebook (Met Antitrust Suits?
- What's Happening with Facebook (Met and Newspapers?
- What's Happening with the Facebook (Met Whistleblower?
- How Many Shares of Meta Stock Are There?
- When Was Facebook Founded?
- Who is Facebook (Met's CEO?
- How Many Users Does Facebook Have?
), owner of Facebook, the world's largest social network, provides a digital social media platform enabling billions of users to connect with one another. While Facebook is best known as a site for friends and families to connect, it's also used by political organizations, small businesses, and large corporations to reach a wide audience. Through its platforms and applications, users can share information, ideas, photos, and videos. In addition to its main social networking site, Meta also offers photo-sharing app Instagram and messaging apps Messenger and WhatsApp. It also offers augmented and virtual reality products. Most of Meta's revenue is generated by selling advertising to marketers.
Facebook was founded in 2004 by four Harvard University students, one of which is the company's Chief Executive Officer (
Meta received a $414 million fine from EU regulators who ruled that on January 4, 2022 that the company illegally forced users to accept data collection.
On November 9, 2022 Meta announced it would be
, or 13% of its total workforce.
On Oct. 26, 2022, Meta
On Aug. 19, 2021, the Federal Trade Commission (
) filed a new antitrust lawsuit against Meta after its original one filed in December 2020 was thrown out in June 2021. In its revised lawsuit, the FTC alleges that Meta illegally sought to suppress competition by acquiring potential competitors, including messaging platform WhatsApp and photo-sharing app Instagram. The FTC is seeking to force Meta to unwind these acquisitions, and accuses Meta of using its dominance in social media to prevent third-party app developers from accessing its platform. Meta filed a motion on Oct. 4, 2021, to dismiss the agency's latest lawsuit, arguing that it still lacked evidence of anticompetitive behavior.
On Feb. 24, 2021, the Australian government passed legislation that effectively requires Meta's Facebook and Alphabet's Google platforms to pay news publishers for use of their content on the tech giants' platforms. The law forces the tech companies and news publishers to submit to binding arbitration if they cannot reach a deal on terms of payment.
The Australian court decision is prompting other countries to take similar actions. European news publishers are lobbying the European Union (
) to pass similar legislation that would require tech giants to pay for their news content at an agreed-on price. News publishers want a clause that forces major tech companies enter into binding arbitration if they fail to agree on terms of payment for content. They want the clause inserted in EU legislation that was introduced in December 2020. Called the
, the legislation aims to curb the power of giant tech companies.
Whistleblower Frances Haugen was a Meta employee until May 2021. She has provided a stream of company documents to the U.S. Securities & Exchange Commission (
and other organizations to show what she says are deep flaws at the giant social network. That includes not only the Facebook platform, but also Meta's smaller platforms including Instagram, which is heavily used by teens. In her news interviews and Congressional testimony, Haugen has criticized the company's focus on "angry, polarizing divisive content" as a way to boost engagement and profits. She says the platform's flaws are detrimental to the safety of children and democracy.
Meta has a dual class structure.
As of Oct 21, 2022, Meta had 2,248,672,204 shares of class A common stock outstanding. The stock represents one vote per share and trades under the ticker "META" on the Nasdaq Global Select Market.
Facebook was founded in 2004. Its four co-founders, Mark Zuckerberg, Eduardo Saverin, Dustin Moskovitz, and Chris Hughes, were students at Harvard University at the time.
Co-founder Mark Zuckerberg is Meta's CEO and chairman. He founded Facebook, the precursor to Meta, with three other classmates while a student at Harvard University. He is ranked 15th on the Forbes 400 list of the richest Americans with a net worth of $41 billion, as of Nov. 23, 2022.
As of Sept. 30, 2022, Facebook's monthly active users (MAUs) were 2.96 billion. Meta defines an MAU as a registered and logged-in Facebook user who visited the Facebook platform or used its Messenger application within the past 30 days as of the date of measurement. Meta uses MAUs to gauge the size of its global active user community.
Jul 5, 2024 · Meta's stock has surged, but concerns linger as competition grows and focus shifts to AI. Check here to learn why we are bullish on META stock.
- Winning with advertisers and users. Engagement is Meta's fundamental growth metric because the advertising business depends on a growing pool of users to keep impressions rising.
- Cost cuts and innovation. The even better news is that Meta is squeezing much more profit out of every dollar it earns in revenue. Operating income soared to $14 billion, or 40% of sales, from 20% of sales a year ago.
- Buy the stock. Meta Platforms' stock is approaching the record levels investors saw in the highest-growth phases of the pandemic in late 2021. Yet the valuation is still below those peaks.
Dec 31, 2021 · In this article, I dive into Meta Platforms, Inc.'s transformation and strategic shift towards a metaverse company to understand the future virtual environments' primary drivers and main...
Jan 10, 2022 · Meta Platforms (META 2.62%) has faced its fair share of criticism in recent months despite its rebranding efforts from Facebook, and some investors continue to view the business with mixed...
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Oct 4, 2024 · Meta Platforms (META) shares hit another record high Friday as investors continue to pile into the stock, impressed by the tech giant’s latest artificial intelligence (AI) and metaverse...
