Meta Platforms
Building the Metaverse — Connecting 3.9 Billion People Through Facebook, Instagram & WhatsApp
🌐Quick Facts
Founded (as Facebook)
February 4, 2004
Rebranded to Meta
October 28, 2021
Founder & CEO
Mark Zuckerberg
Headquarters
Menlo Park, California
Stock Symbol
NASDAQ: META
Market Cap
$1.2 Trillion (2026)
Monthly Active People
3.9 Billion (2026)
Annual Revenue
$134.9 Billion (2023)
Employees
~67,000 (2026)
Key Products
Facebook, Instagram, WhatsApp, Meta Quest
Company Overview
Meta Platforms, Inc. (formerly Facebook, Inc.) is an American multinational technology conglomerate based in Menlo Park, California. The company owns and operates Facebook, Instagram, WhatsApp, and Meta Quest (formerly Oculus), making it one of the world's most valuable companies and the largest social media conglomerate.
Founded as TheFacebook by Mark Zuckerberg and college roommates Eduardo Saverin, Andrew McCollum, Dustin Moskovitz, and Chris Hughes in 2004, the company began as a social networking service for Harvard students before expanding globally. Facebook, Inc. went public in May 2012 in one of the largest tech IPOs in history.
In October 2021, Facebook, Inc. rebranded to Meta Platforms to reflect its focus on building the "metaverse"—immersive virtual and augmented reality experiences. With 3.9 billion monthly active users across its family of apps, Meta is the world's largest social media ecosystem and a dominant force in digital advertising, generating over $134 billion in annual revenue.
Founding & Early History
2003-2004: Harvard Beginnings
Mark Zuckerberg, a Harvard sophomore, launched "Facemash" in October 2003, comparing students' photos. Though shut down by Harvard, it demonstrated the appeal of social networking. Zuckerberg then developed "TheFacebook" with roommates Eduardo Saverin, Andrew McCollum, Dustin Moskovitz, and Chris Hughes.
TheFacebook launched on February 4, 2004, exclusively for Harvard students. Within 24 hours, 1,200 students had signed up. Within a month, half of Harvard undergraduates had profiles. The site expanded to other Ivy League schools, then to all universities with a .edu email address.
2004-2005: Silicon Valley & Expansion
In June 2004, Zuckerberg, Moskovitz, and McCollum moved to Palo Alto, California, establishing their first office. Peter Thiel made the first major investment: $500,000 for 10.2% of the company. The site dropped "The" from its name, becoming simply "Facebook."
By December 2004, Facebook had 1 million users. In August 2005, the company acquired the domain facebook.com from AboutFace Corporation for $200,000. Facebook opened to high school students in September 2005 and reached 5.5 million users by the end of 2005.
2006-2007: Going Global
Facebook opened to everyone 13 and older with a valid email address in September 2006. The decision to open registration proved transformative—within a year, Facebook exploded from 12 million to 50 million users. In October 2007, Microsoft invested $240 million for a 1.6% stake, valuing Facebook at $15 billion.
Major Acquisitions
Acquired the photo-sharing app when it had 30 million users. Now has 2.4 billion monthly active users and generates over $50 billion in annual revenue. Considered one of the best acquisitions in tech history.
Acquired the messaging app for $19 billion, Facebook's largest acquisition. WhatsApp had 450 million users at acquisition; now has over 2 billion monthly active users and is the world's most popular messaging app.
Oculus VR
$2 Billion (2014)Acquired the virtual reality company to lead Meta's push into the metaverse. Now operates as Reality Labs, producing Meta Quest headsets. Has become central to Meta's long-term strategy despite ongoing losses.
Other Notable Acquisitions
- • CTRL-labs (2019) - $1 billion - Neural interface technology
- • Giphy (2020) - $400 million - GIF platform (later divested)
- • Kustomer (2020) - $1 billion - Customer service platform
- • Within (attempted 2022) - $400 million - Blocked by FTC
Major Milestones
TheFacebook launches at Harvard; expands to Ivy League schools
Opens to public; introduces News Feed feature
Launches Facebook Platform for third-party developers
Goes public with $16B IPO; Acquires Instagram for $1B; Reaches 1 billion users
Acquires WhatsApp ($19B) and Oculus VR ($2B)
Reaches 2 billion monthly active users
Cambridge Analytica scandal emerges
Launches Instagram Reels to compete with TikTok
Rebrands to Meta Platforms; Announces metaverse focus
First revenue decline in history; Massive layoffs begin
Launches Meta AI and Llama AI models; "Year of Efficiency"
Meta Quest 3 launches; AI features integrated across all apps
Reaches 3.9B monthly active people; $1.2T market cap
Platform Statistics (2026)
Monthly Active People (All Apps)
Daily Active People
Facebook Monthly Users
Instagram Monthly Users
WhatsApp Monthly Users
Annual Revenue (2023)
Business Segments
Family of Apps (FoA)
Includes Facebook, Instagram, Messenger, WhatsApp, and Threads. Generates vast majority of revenue through digital advertising.
Reality Labs
Virtual and augmented reality products including Meta Quest headsets, AR glasses development, and metaverse platforms like Horizon Worlds.
Meta AI & Infrastructure
AI research and development including Llama language models, Meta AI assistant, AI-powered features across all platforms, and extensive data center infrastructure.
Major Controversies
Cambridge Analytica (2018)
Political consulting firm harvested data from 87 million Facebook users without consent for targeted political advertising. Led to $5 billion FTC fine, congressional hearings, and global privacy law changes. Zuckerberg testified before Congress and European Parliament.
2020 Election & January 6th
Facebook faced criticism for role in spreading election misinformation and organizing the January 6, 2021 Capitol riot. Suspended Donald Trump's account. Whistleblower Frances Haugen leaked internal documents showing company prioritized engagement over safety.
Teen Mental Health
Internal research leaked in 2021 showed Instagram harms teen mental health, particularly among girls. Documents revealed company knew about negative impacts but continued prioritizing engagement. Led to congressional hearings and lawsuits from state attorneys general.
Antitrust Investigations
FTC and state attorneys general filed antitrust lawsuits seeking to break up Meta, claiming illegal monopoly through acquisitions of Instagram and WhatsApp. FTC blocked Meta's Within acquisition in 2023. Multiple ongoing regulatory battles worldwide.
Privacy & Data Collection
Ongoing controversies over data collection practices, targeted advertising, and privacy violations. Faced billions in GDPR fines in Europe. Apple's iOS privacy changes in 2021 significantly impacted Meta's advertising business, causing estimated $10 billion in lost revenue.