Meta Platforms, Inc., engages in the development of social media applications. It builds technology that helps people connect, find communities, and grow businesses. It operates through the Family of Apps (FoA) and Reality Labs (RL) segments. The FoA segment consists of Facebook, Instagram, Messenger, WhatsApp, and other services. The RL segment includes augmented and virtual reality related consumer hardware, software, and content. The company was founded by Mark Elliot Zuckerberg, Dustin Moskovitz, Chris R. Hughes, Andrew McCollum, and Eduardo P. Saverin on February 4, 2004, and is headquartered in Menlo Park, CA.
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It is the largest fine ever issued by Data Privacy Regulators in Europe.
Meta investors cheered the company’s pivot to an AI-powered future in what Zuckerberg calls the year of “efficiency.”
Meta is enjoying renewed optimism for its share price with sales growth predicted at 4.7% this year.
The company based itself around web 3 with their Meta name change in 2021.
Meta is preparing for another round of layoffs after letting go of 13% of its workforce in November.
Joe Biden is set to receive powers which could enable a US ban of TikTok.
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Facebook parent Meta is refusing to back down from its metaverse stance, even if it's not what investors want to hear.
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Meta investors are giving Zuck the benefit of the doubt as the embattled brand steps up its cost-cutting efforts.
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