The IPO raised $16 billion, making it the third-largest in US history (slightly ahead of AT&T Wireless and behind only General Motors and Visa). On May 16, one day before the IPO, Facebook announced it would sell 25% more shares than originally planned due to high demand. Underwriters valued the shares at $38 each, valuing the company at $104 billion, the largest valuation to date for a newly public company. After the IPO, Zuckerberg would retain a 22% ownership share in Facebook and would own 57% of the voting shares.
The preliminary prospectus stated that the company sought to raise $5 billion, had 845 million monthly active users, and a website accruing 2.7 billion likes and comments daily. Historyįacebook filed for an initial public offering (IPO) on January 1, 2012. According to Meta, the term "metaverse" refers to the integrated environment that links all of the company's products and services. On October 28, 2021, the parent company of Facebook changed its name from Facebook, Inc., to Meta Platforms, Inc., to "reflect its focus on building the metaverse". Despite endeavors into hardware, the company still relies on advertising for a vast majority of its revenue, which in 2022 made up 97.5 percent of its revenue.
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In addition to Facebook, Instagram, Threads and WhatsApp, Meta has also acquired Oculus (which it has integrated into Reality Labs), Mapillary, CTRL-Labs, and has 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 smart glasses. It is considered one of the Big Five American information technology companies, alongside Google's parent company Alphabet, Amazon, Apple, and Microsoft. Meta is one of the world's most valuable companies and among the ten largest publicly traded corporations in the United States. The company owns and operates Facebook, Instagram, Threads, and WhatsApp, among other products and services.
We’re also continuing to look for opportunities to centralize additional settings in Accounts Center going forward, so that people can more easily manage their preferences across our products.Meta Platforms, Inc., doing business as Meta, and formerly named Facebook, Inc., and TheFacebook, Inc., is an American multinational technology conglomerate based in Menlo Park, California. These changes will begin to go into effect today, and will gradually roll out to everyone on Facebook, Messenger and Instagram in the coming months. For people who choose to do so, they will still have access to the same settings, and can apply them to individual accounts. Finally, we know people want more control over the ads they see, which is why we’re exploring new ways to give people the ability to see more ads about the things that interest them, in addition to the existing option of seeing fewer ads about things that don’t interest them.Īdding more than one account to the same Accounts Center is optional - if you want to keep your accounts in separate Accounts Centers, you can. Second, we’re making it easier for people to understand their options when it comes to seeing ads shown by Meta on other apps and websites. In addition to bringing Ad preferences to Accounts Center, we’re also making improvements to some of the ad settings controls that can help people understand and manage their ads experience across our technologies.įirst, we’re updating our Data about your activity from Partners’ control, which is now called Activity information from ad partners to help people easily understand how their activity sent from other websites and apps is used to power the ads they see. Learn more about the settings that are moving into Accounts Center. For example, you can now easily make your ad topic preferences consistent for Facebook and Instagram accounts by adding those accounts to the same Accounts Center. Things like Personal details, Passwords and security, and Ad preferences will now live in a centralized place, so it’ll be easier for people who use multiple apps to manage their settings. These improvements can all be found in Accounts Center, which is located in the settings menus for Facebook, Messenger and Instagram.
Today, we’re announcing ways to make finding and managing certain settings easier across multiple apps.
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