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Companies Encyclopedia Entry 1775940010

** Meta Platforms, Inc., commonly known as Meta, is a multinational technology and online social media company that operates several well-known platforms, including Facebook, Instagram, and WhatsApp. ## Overview Meta Platforms, Inc. is a leading technology company that has revolutionized the way people connect, communicate, and share information online. Founded in 2004 by Mark Zuckerberg, along with his college roommates and fellow Harvard University students Eduardo Saverin, Andrew McCollum, Dustin Moskovitz, and Chris Hughes, the company has grown exponentially over the years to become one of the largest and most influential technology companies in the world. Meta's mission is to give people the power to build community and bring the world closer together. Meta's early success was driven by the rapid adoption of Facebook, which was initially launched as a social networking platform for college students. The platform quickly expanded to become a global phenomenon, with over 2.7 billion monthly active users. In 2012, Meta acquired Instagram, a popular photo and video sharing platform, and in 2014, it acquired WhatsApp, a messaging app. Today, Meta operates a diverse range of platforms and services, including Facebook, Instagram, WhatsApp, Oculus (a virtual reality technology company), and Giphy (a GIF sharing platform). ## History/Background Meta's history dates back to 2004, when Mark Zuckerberg launched Facebook from his college dorm room at Harvard University. Initially, the platform was called "Thefacebook" and was intended as a social networking site for college students. However, it quickly gained popularity and expanded to become a global platform. In 2005, Facebook raised $500,000 in funding from investors, including Peter Thiel, a co-founder of PayPal. The company's rapid growth and success led to the development of new platforms and services, including Instagram and WhatsApp. In 2012, Meta acquired Instagram for $1 billion, and in 2014, it acquired WhatsApp for $19 billion. The acquisitions marked a significant shift in Meta's strategy, as the company began to focus on building a diverse range of platforms and services. In 2021, Meta rebranded itself as a parent company, with Facebook, Instagram, and WhatsApp operating as subsidiaries. ## Key Information * **Revenue:** Meta generated $117.9 billion in revenue in 2021, making it one of the largest technology companies in the world. * **Employees:** Meta has over 80,000 employees worldwide, making it one of the largest employers in the technology industry. * **Platforms:** Meta operates several well-known platforms, including Facebook, Instagram, WhatsApp, Oculus, and Giphy. * **Acquisitions:** Meta has acquired several companies, including Instagram, WhatsApp, Oculus, and Giphy. * **Innovation:** Meta has developed several innovative technologies, including the Facebook News Feed algorithm and the Instagram Reels feature. ## Significance Meta's significance extends beyond its financial success and technological innovations. The company has played a major role in shaping the way people connect, communicate, and share information online. Its platforms have become an integral part of modern life, with billions of people using them every day. Meta's impact on society is multifaceted, with both positive and negative effects. On the positive side, Meta's platforms have enabled people to connect with others across the globe, fostering global understanding and community. They have also enabled businesses to reach new customers and markets, driving economic growth and innovation. However, Meta's platforms have also been criticized for their role in spreading misinformation, promoting hate speech, and undermining democracy. INFOBOX: - **Name:** Meta Platforms, Inc. - **Type:** Technology and online social media company - **Date:** Founded in 2004 - **Location:** Menlo Park, California, USA - **Known For:** Operating several well-known platforms, including Facebook, Instagram, and WhatsApp TAGS: Technology, Social Media, Online Platforms, Facebook, Instagram, WhatsApp, Oculus, Giphy, Innovation, Global Community.