Meta Platforms, Inc., previously recognized as Facebook, Inc., stands as a prominent global technology conglomerate that has fundamentally reshaped the manner in which individuals establish connections and engage with one another within the realm of the digital era. Within the confines of this article, we shall delve into a myriad of facets pertaining to the esteemed corporation, encompassing its financial valuation, historical trajectory, chief executive officer, central administrative hub, and its genesis as a prominent entity within the realm of social media, firmly rooted in the United States.
|Meta Platforms Company Origin Country||Cambridge, Massachusetts, U.S.|
|Established Year||January 4, 2004|
|Headquarters||1601 Willow Road, Menlo Park, California 94025, U.S.|
|Meta Platforms Company CEO||Mark Zuckerberg|
|Meta Platforms Company Net Worth||$801.41 billion as of November 1, 2023|
|Industry||Social media, Social network advertising, Consumer electronics, Virtual reality|
Meta Platforms Company Historical Background
The inception of Meta Platforms, Inc. can be traced back to the year 2004, when the visionary Mark Zuckerberg, along with his fellow collegiate companions, initiated the establishment of “The Facebook” within the confines of their esteemed Harvard University dormitory. In its nascent stage, the platform was initially confined to the erudite realm of academia, catering exclusively to the intellectual pursuits of college students. However, its rapid evolution saw it transcend the boundaries of higher education, permeating through various universities and ultimately permeating the wider populace. The enterprise underwent a subsequent rebranding, adopting the appellation “Facebook,” thereby mirroring its fundamental objective of facilitating interpersonal connections.
Throughout the passage of time, Facebook has undergone a transformative process, transitioning from its initial manifestation as a social networking platform to its current state as a formidable conglomerate within the technological realm.
During the month of October in the year 2021, Facebook made a notable declaration pertaining to a substantial rebranding endeavour, wherein the company opted to alter its nomenclature to “Meta Platforms, Inc.” The act of rebranding served as a clear indication of a deliberate and calculated change in direction, with a newfound emphasis on the advancement and cultivation of the metaverse. This virtual realm, which aspires to fundamentally transform the landscape of digital engagement, has become the primary focal point of attention and effort.
Meta Platforms Company Net Worth
Meta’s Q3 2023 revenue was $34.15 billion, up 23% YoY. In summary, Facebook’s Average Revenue per User (ARPU) grew 5.6% sequentially and 19.3% YoY in all regions. Investors like fast revenue growth, which boosts stock performance and market confidence.
Meta’s “Year of Efficiency” initiative is paying off, with quarterly expenditures and expenses falling 7% to $20.40 billion. Meta’s profit margins are further boosted by excellent cost management, which has freed up money for $30–35 billion in AI and data centre investments in 2024. Finally, the company’s solid fundamentals focus on its $61.12 billion liquidity at the end of the quarter. Quarterly free cash flow was $13.64 billion, remarkable. Protecting the corporation against the Fed’s longer-term attitude with $18.4 billion in debt.
Future investments in AI in 2024 demonstrate its strategic importance. Meta believes generative AI will drive product and business performance. This technology might revolutionize content creation and user experiences, setting Meta apart in social media and tech.
Meta’s dedication on open-source AI is shown with foundation models like Llama 2, which had over 30 million downloads in September. By building an ecosystem of AI engineers and fans, the company hopes to tap into collective wisdom and stay ahead.