The preliminary prospectus stated that the company sought to raise $5 billion, had 845 million monthly active users, and a website accruing 2.7 billion likes and comments daily.
įacebook filed for an initial public offering (IPO) on January 1, 2012. According to Meta, the "metaverse" refers to the integrated environment that links all of the company's products and services.
In October 2021, the parent company of Facebook changed its name from Facebook, Inc., to Meta Platforms, Inc., to "reflect its focus on building the metaverse". In 2021, the company generated 97.5% of its revenue from the sale of advertising. It has also acquired Oculus, Giphy, Mapillary, Kustomer, Presize and has a 9.99% stake in Jio Platforms. Meta's products and services include Facebook, Messenger, Facebook Watch, and Meta Portal. It is considered one of the Big Five American information technology companies, alongside Alphabet, Amazon, Apple, and Microsoft. Meta is one of the world's most valuable companies. The company owns Facebook, Instagram, and WhatsApp, among other products and services. 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.
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