About the Company
Meta Platforms, Inc. is an American multinational technology company headquartered in Menlo Park, California. Meta owns and operates several prominent social media platforms and communication services, including Facebook, Instagram, Threads, Messenger and WhatsApp. The company also operates an advertising network for its own sites and third parties; as of 2023, advertising accounted for 97.8 percent of its total revenue. The company was originally established in 2004 as TheFacebook, Inc., and was renamed Facebook, Inc. in 2005. In 2021, it rebranded as Meta Platforms, Inc. to reflect a strategic shift toward developing the metaverse—an interconnected digital ecosystem spanning virtual and augmented reality technologies. Meta is considered one of the Big Five American technology companies, alongside Alphabet (Google), Amazon, Apple, and Microsoft. In 2023, it was ranked 31st on the Forbes Global 2000 list of the world's largest public companies. As of 2022, it was the world's third-largest spender on research and development, with R&D expenses totaling US$35.3 billion.
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