Meta Platforms
Meta Platforms, Inc., doing business as Meta, and formerly named Facebook, Inc., and TheFacebook, Inc., is an American multinational technology conglomerate based in Menlo Park, California. The company owns and operates Facebook, Instagram, Threads, and WhatsApp, among other products and services. Meta ranks among the largest American information technology companies, alongside other Big Five corporations Alphabet (Google), Amazon, Apple, and Microsoft. The company was ranked #31 on the Forbes Global 2000 ranking in 2023. In 2022, Meta was the company with the third-highest expenditure on research and development worldwide, with R&D expenditure amounting to US$35.3 billion.
Some of the key events about Meta Platforms
- 2004Launched Facebook as a social networking platform for college students
- 2006Opened Facebook registration to anyone over 13 years old with a valid email address
- 2010Introduced the "Like" button, revolutionizing user engagement on social media
- 2011Settled a lawsuit over its "Sponsored Stories" feature for $20 million
- 2012Acquired Instagram, expanding its social media portfolio
- 2012Acquired Instagram for $1 billion, raising antitrust concerns
- 2014Acquired WhatsApp, further expanding its messaging capabilities
- 2014Conducted controversial emotional manipulation study on users without explicit consent
- 2015Launched Internet.org initiative to provide free internet access in developing countries
- 2016Introduced Facebook Live, allowing users to broadcast live video to their audience
- 2016Faced criticism for allowing the spread of fake news during the U.S. presidential election
- 2017Launched Oculus Rift, bringing virtual reality technology to consumers
- 2018Cambridge Analytica scandal revealed improper access to data of millions of users
- 2018Admitted to storing millions of user passwords in plain text, compromising security
- 2019Agreed to pay $5 billion fine to FTC for privacy violations
- 2020Committed $100 million to support small businesses during the COVID-19 pandemic
- 2021Rebranded as Meta, signaling a shift towards developing the metaverse
- 2021Whistleblower leaked internal documents revealing knowledge of platform's negative effects
- 2021Rebranded as Meta amid growing controversies, seen by some as an attempt to distract
- 2023Fined €1.2 billion by EU for violating GDPR data transfer rules
Disclaimer: This material is written based on information taken from open sources, including Wikipedia, news media, podcasts, and other public sources.
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