Meta is helping build a future where people have more ways to play and connect in the metaverse.
Meta Platforms, Inc., doing business as Meta (formerly Facebook, Inc.), is an American multinational technology conglomerate holding company based in Menlo Park, California. It is the parent organization of Facebook, Instagram, and WhatsApp, among other subsidiaries. It is one of the world’s most valuable companies and is considered one of the Big Tech companies in US information technology, alongside Amazon, Alphabet, Apple, and Microsoft. The company generates a substantial share of its revenue from the sale of advertisement placements to marketers.
Meta offers other products and services, including Facebook, Messenger, Facebook Watch, and Facebook Portal. It has also acquired Oculus, Giphy and Mapillary, and has a 9.99% stake in Jio Platforms.
In October 2021, media outlets reported that the parent company of Facebook planned to change its name to “reflect its focus on building the metaverse”, it was rebranded as Meta later that month on October 28. The word “meta” comes from the Greek language and means “beyond”, indicating the futuristic motive.
Robinhood may have taken this decision to halt trading to avoid an anxiety surge amongst traders and to mitigate the volume of losses that they incur.
Meta plans to increase its capital expenditures in AI by next year. These funds will help the company focus on research and development in artificial intelligence, which is expected to play a crucial role in its future growth.
The coalition involves multiple tech sectors, cutting across social media, cryptocurrency, finance, and dating apps.