What is Meta best known for?

Meta (formerly known as Facebook) is best known for several key things:

1. Social Media Platforms

Meta’s flagship products, Facebook, Instagram, and WhatsApp, are globally dominant social media platforms that connect billions of users. These platforms allow people to share updates, images, and videos, communicate with friends and family, and follow public figures and interests.

• Facebook: Launched in 2004, Facebook remains one of the largest social media platforms in the world, known for its user profiles, News Feed, and Groups.
• Instagram: A visual content-based platform that allows users to share photos and videos, Instagram has become a key player in social media, especially among younger users.
• WhatsApp: A messaging platform that offers free text, voice, and video calls globally.

2. Digital Advertising

Meta is a giant in the world of digital advertising. Its advertising platform leverages data from Facebook, Instagram, and WhatsApp users to target ads based on users’ behaviors, interests, and demographics. This precise targeting is why Meta’s ad platform is widely used by businesses of all sizes.

• In 2022, over 97% of Meta’s revenue came from digital advertising.

3. Virtual Reality and the Metaverse

Meta has been heavily investing in virtual reality (VR) and the development of the metaverse. With the acquisition of Oculus in 2014, Meta is pushing VR through products like the Oculus Quest headset. The company is also developing the metaverse—virtual environments where people can interact, socialize, and work.

• The shift towards the metaverse is reflected in the company’s 2021 rebranding from Facebook to Meta.

4. Influence on Global Communication

Meta’s platforms are essential tools for global communication. Whether through Facebook Messenger, WhatsApp, or Instagram, billions of people use these tools to stay in touch across borders.

5. Data Privacy and Ethical Concerns

Meta is also well-known for its challenges related to data privacy, security, and the ethical implications of its influence on society. The company has faced scrutiny and legal issues regarding the use of personal data, its role in spreading misinformation, and its handling of user privacy, especially after incidents like the Cambridge Analytica scandal in 2018.

Sources:

• Meta Platforms on Glassdoor
• Statista: Meta's Advertising Revenue
• Meta Rebranding and Metaverse Vision