![]() ![]() Facebook biggest shareholders: What is Mark Zuckerberg’s stake? The groups share price rose in February when it beat analysts estimates for its Q4 earnings release, with earning per share coming in at $1.76 and revenue at $32.17bn vs $31.53bn expected, according to Refinitiv. ![]() Meta Platforms employs over 80,000 people. The majority of Meta’s profits come from its advertising revenue, which amounted to 113.6 billion U.S. dollars, a slight decrease on the previous year. In 2022, Meta Platforms generated a revenue of over 116 billion U.S. The ticker symbol assigned to the company’s Class A common shares was changed from FB to META. The new name is considered to be a better reflection of the business’s aim to become a leading player in the up-and-coming metaverse industry. On 28 October last year, Facebook changed its name to Meta Platforms. In addition, the parent company acquired two widely successful mobile apps, Instagram and WhatsApp, whose results are now being reported under the segment Family of Apps.Īs per the latest quarterly report, Meta Platforms’ Family of Apps had a combined monthly active people (MAP) of 3.65 billion – almost half of the world’s population. Since then, Facebook has grown to become the world’s largest social media platform with approximately 2.9 billion monthly active users. Founded in 2004 by a group of Harvard students including its current CEO, Mark Zuckerberg, after they created a social app called The Facebook. This is the beginning of the journey,” Clegg said.Meta Platforms is the name of the company that was formerly known as Facebook. “We have years until the metaverse as we envision it is fully realized. Nick Clegg, the company’s vice-president of global affairs, acknowledged that the company has faced criticism for not envisioning the long-term impacts of its problems. Zuckerberg on Thursday tried to get ahead of such privacy and security concerns. ![]() Others warned Facebook’s metaverse launch could mean a new space in which the company has a monopoly, amid ongoing antitrust concerns. “To echo Frances Haugen’s words, just imagine what Facebook could achieve if it devoted even a fraction of its metaverse investment on proper content moderation to enforce even the most basic standards of truth, decency and progress,” Ahmed said. The company has dedicated $10bn in 2021 to the metaverse while its safety division received $5bn in funding. In her recent testimony, Haugen said she was “shocked” to hear how much the company was investing in the metaverse while its safety efforts failed. “The fact that Zuckerberg has set his sights firmly on the so-called ‘metaverse’ while societies all over the world are scrambling to alleviate the myriad harms caused by his platforms just goes to show how out of touch Facebook is with real people,” said Imran Ahmed, CEO of the Center for Countering Digital Hate. The revelations from the “Facebook papers” are just the latest struggle for the embattled company, which has in recent years been served with a lawsuit from the Federal Trade Commission (FTC), was the subject of numerous congressional hearings, and in 2019 was fined $5bn by the Federal Trade Commission in 2019 for “deceiving” users.Ĭritics of the platform contended on Thursday that the metaverse project is a distraction from the company’s PR crisis, and that the company risks making the same mistakes as it has in the past. Those include a series of recent reports based on documents leaked by the whistleblower Frances Haugen that exposed toxic business practices and internal knowledge of its longterm negative public health impact. “We want to serve as many people as possible, which means working to make our services cost less not more,” he said.įacebook’s rebranding effort is not unprecedented in the tech space – Google in 2015 restructured into a new holding company, placing subsidiaries including its namesake search engine, YouTube and its self-driving car firm Waymo under a new umbrella firm called Alphabet.īut Facebook’s announcement comes amid deep regulatory and PR challenges. The company has also dedicated $150m to developers to create new apps, games and immersive programs in the metaverse. Zuckerberg said the company would continue to offer services and hardwire to developers at low cost or for free, in an attempt to attract a critical mass of people to the platform. He also said Facebook plans to further explore NFTs and crypto to help facilitate media that can be represented digitally, and is working on gaming applications. Still, Zuckerberg said, Facebook rolled out two of its metaverse projects in beta last year: Horizon World, which allows users to invite friends over into their digital world, and Horizon Workrooms, which does the same in professional settings. Facebook CEO Mark Zuckerberg delivers the keynote address during a virtual event on 28 October. ![]()
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |