Meta Platforms, Inc.

Meta Platforms, Inc. Overview

Company Headquarters: US

Founded: 2004

Workforce: ~189,000

Company Working: Meta Platforms, Inc. builds technologies that help people connect, find communities, and grow businesses. Meta Platforms, Inc., doing business as Meta and formerly named Facebook, Inc., and TheFacebook, Inc., is an American multinational technology conglomerate. The Company's products enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality (VR) headsets, and wearables. The Company operates through two segments: Family of Apps (FoA) and Reality Labs (RL). FoA segment includes Facebook, Instagram, Messenger, WhatsApp, and other services. RL segment includes augmented and VR-related consumer hardware, software, and content. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers. Instagram is a place where people can express themselves through photos, videos, and private messaging, and connect with and shop from their favorite businesses. Its RL products include Meta Quest virtual reality devices, as well as software and content available through the Meta Quest Store, which enable a range of social experiences.

Strategy

Meta Platforms, Inc. majorly focuses on product development to expand its product offerings. It has been continuously investing heavily to offer an enhanced and unique product portfolio to provide an enriched experience to its consumers. The company also follows strategic acquisitions to expand the company’s reach. Additionally, it is also involved in collaboration with different companies to increase their global presence. The company acquired Instagram and WhatsApp to broaden its offerings and increase its geographic reach, strengthening its position in the market.

Company Snapshot

$55.84M

Revenue

189,000

Employees

2004

Founded

US

Headquarters

SWOT Analysis

Strengths

Strong liquidity
Increasing profitability

Weaknesses

Revenue generation highly dependent on advertising

Opportunities

Strategic Alliances
Inorganic growth strategies

Threats

Cyber attacks
Stringent regulatory environment

Key Developments

Date	Approach	Development
September 2022	Agreement	Qualcomm Technologies, Inc. and Meta Platforms, Inc. made a multi-year agreement to collaborate on a new era of spatial computing powered by Snapdragon extended reality (XR) platforms and technologies for the Meta Quest platform. For more than seven years, the companies have collaborated on cutting-edge virtual reality (VR) innovations, with their most recent project being Meta Quest 2. This agreement confirms their shared dedication to providing superior devices and experiences using customized VR platforms for numerous generations in the future.
October 2018	Product Development	Facebook Inc. launched Messenger 4, a new and simplified version of its Messenger App. The new version is simple and easier to navigate and offers personalized conversations. As it is challenging to offer personalized services in a single roll-out, the app will be rolling out in phases. The company aims at offering a simplistic messaging app as per the consumer's demand.
August 2018	Product Development	Facebook Inc. added new tools on Facebook and Instagram platforms to help users manage time. The tools include an activity dashboard, a daily reminder, and a new way to limit notifications. They offer users control over the time they spend on the platforms.
June 2018	Product Development	Facebook Inc. launched new features to Messenger Kids. The features included messenger kids pledge, kindness stickers, and appreciation mission, which will help create a safe, interactive, and informative platform for children to chat with close friends and family. Messenger Kids is being introduced in Canada and Peru with Spanish and French versions of the app to increase its subscriber base.

Product Offering

Meta Platforms, Inc.
- Global Entertainment & Media Market

Financial Performance

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