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Companies Encyclopedia Entry 1778741003

** Meta Platforms, Inc., formerly known as Facebook, Inc., is a multinational technology and online social media company that has revolutionized the way people interact, communicate, and access information online. ## Overview Meta Platforms, Inc. is one of the world's largest and most influential technology companies, with a market capitalization of over $1 trillion. 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 a global leader in the digital landscape. Meta's primary product, Facebook, is the world's largest social networking platform, with over 2.7 billion monthly active users. The company's mission is to give people the power to build community and bring the world closer together. Meta's success can be attributed to its innovative approach to social media, which has enabled users to connect with friends, family, and like-minded individuals across the globe. The company's platform has also become a hub for online commerce, with billions of dollars in revenue generated through advertising and e-commerce transactions. In addition to Facebook, Meta owns several other popular platforms, including Instagram, WhatsApp, and Oculus VR. ## History/Background Meta's history began in 2003, when Mark Zuckerberg, then a sophomore at Harvard, created a website called "Facemash," which allowed users to compare the photos of two students and vote on which one was more attractive. The site became popular, but also generated controversy and was eventually shut down by the university. Undeterred, Zuckerberg and his friends created a new website called "Thefacebook," which was launched in February 2004. The site quickly gained popularity, and by the end of the year, it had expanded to other colleges and universities across the United States. In 2005, the company dropped "The" from its name and became simply "Facebook." The site continued to grow, and by 2012, it had surpassed 1 billion users. In the same year, Facebook went public with an initial public offering (IPO) that raised $16 billion, making it one of the largest IPOs in history. Over the years, the company has acquired several other popular platforms, including Instagram (2012) and WhatsApp (2014). ## Key Information * **Revenue:** $117.9 billion (2021) * **Net Income:** $29.1 billion (2021) * **Employees:** over 80,000 (2022) * **Headquarters:** Menlo Park, California, USA * **Subsidiaries:** Instagram, WhatsApp, Oculus VR, Giphy, and others * **Key Products:** Facebook, Instagram, WhatsApp, Facebook Messenger, and Oculus VR ## Significance Meta's impact on society and the economy cannot be overstated. The company's platforms have revolutionized the way people communicate, access information, and connect with each other. Facebook, in particular, has become an essential tool for social interaction, with billions of users worldwide. The company's influence extends beyond social media, with its platforms having a significant impact on e-commerce, advertising, and online commerce. Meta's success has also created new opportunities for entrepreneurs, small businesses, and individuals to reach a global audience and build their personal brands. The company's platforms have also enabled new forms of creative expression, with billions of users sharing content, photos, and videos every day. However, Meta's growth has also raised concerns about data privacy, online harassment, and the spread of misinformation. The company has faced numerous regulatory challenges and lawsuits over the years, including a $5 billion fine from the European Union in 2019 for violating data protection laws. INFOBOX: - **Name:** Meta Platforms, Inc. - **Type:** Technology and online social media company - **Date:** Founded in 2004 - **Location:** Menlo Park, California, USA - **Known For:** Developing Facebook, the world's largest social networking platform TAGS: Meta, Facebook, social media, technology, online commerce, e-commerce, advertising, data privacy, online harassment, misinformation, Mark Zuckerberg, IPO, initial public offering.