Meta Platforms
Meta Platforms, Inc.,[10] doing business as Meta,[11] and formerly named Facebook, Inc., and TheFacebook, Inc.,[12][13] 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.[14] 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.[15]
"Facebook, Inc." redirects here. For the social media, see Facebook.Meta
- TheFacebook, Inc. (2004–2005)
- Facebook, Inc. (2005–2021)
- Nasdaq: META (Class A)
- Nasdaq-100 component
- S&P 100 component
- S&P 500 component
January 4, 2004 in Cambridge, Massachusetts, U.S.
Worldwide
- Mark Zuckerberg (Chairman and CEO)
- Javier Olivan (COO)
- Susan Li (CFO)
- Andrew Bosworth (CTO)
- Chris Cox (CPO)
US$134.9 billion (2023)
US$46.75 billion (2023)
US$39.10 billion (2023)
US$229.6 billion (2023)
US$153.2 billion (2023)
Mark Zuckerberg (13.68% equity; 61.2% voting)[1]
67,317 (2023)
Novi Financial
Meta has also acquired Oculus (which it has integrated into Reality Labs), Mapillary, CTRL-Labs, and a 9.99% stake in Jio Platforms; the company additionally endeavored into non-VR hardware, such as the discontinued Meta Portal smart displays line and presently partners with Luxottica through the Ray-Ban Stories series of smartglasses.[16][17] Despite endeavors into hardware, the company relies on advertising for a vast majority of its revenue, amounting to 97.8 percent in 2023.[18]
Parent company Facebook, Inc. rebranded as Meta Platforms, Inc. on October 28, 2021, to "reflect its focus on building the metaverse",[19] an integrated environment linking the company's products and services.[20][21][22]
Lobbying
In 2020, Facebook, Inc. spent $19.7 million on lobbying, hiring 79 lobbyists. By 2019, it had spent $16.7 million on lobbying and had a team of 71 lobbyists, up from $12.6 million and 51 lobbyists in 2018.[112] Facebook was the largest spender of lobbying money among the Big Tech companies in 2020.[113] The lobbying team includes top congressional aide John Branscome, who was hired in September 2021, to help the company fend off threats from Democratic lawmakers and the Biden administration.[114]
Facilities
Offices
Users outside of the US and Canada contract with Meta's Irish subsidiary, Meta Platforms Ireland Limited (formerly Facebook Ireland Limited), allowing Meta to avoid US taxes for all users in Europe, Asia, Australia, Africa and South America. Meta is making use of the Double Irish arrangement which allows it to pay 2–3% corporation tax on all international revenue.[170] In 2010, Facebook opened its fourth office, in Hyderabad, India,[171] which houses online advertising and developer support teams and provides support to users and advertisers.[172] In India, Meta is registered as Facebook India Online Services Pvt Ltd.[173] It also has support centers in Chittagong; Dublin; California; Ireland; and Austin, Texas.[174]
Facebook opened its London headquarters in 2017 in Fitzrovia in central London. Facebook opened an office in Cambridge, Massachusetts in 2018. The offices were initially home to the "Connectivity Lab", a group focused on bringing Internet access to those who do not have access to the Internet.[175] In April 2019, Facebook opened its Taiwan headquarters in Taipei.[176]
In March 2022, Meta opened new regional headquarters in Dubai.[177]
In September 2023, it was reported that Meta had paid £149m to British Land in order to break the lease on Triton Square London office. Meta reportedly had another 18 years left on its lease on the site.[178]
