Case 90 Meta Platforms

B. Rajesh Kumar
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B. Rajesh Kumar: Institute of Management Technology

A chapter in Rising Stars, 2024, pp 649-656 from Springer

Abstract: Abstract On October 28, 2021, Facebook, Inc. changed its name to Meta. Meta was incorporated in Delaware in July 2004, and completed its initial public offering in May 2012, and its common stock is currently listed on the Nasdaq Global Select Market under the symbol META. Meta Platform’s primary objective is to foster a closer connection between communities and the world. With a focus on bringing the metaverse to life, the company offers a range of innovative products and apps that support this vision. Through cutting-edge technology, Meta Platform facilitates seamless connections, empowering people to discover and engage with diverse communities while also nurturing the growth of businesses. Meta Products connect more than 3 billion people around the world. Beyond conventional 2D screens, Meta Platform is leading the charge toward immersive experiences in the realm of social technology, such as augmented and virtual reality. By embracing these transformative technologies, Meta enables individuals to share their experiences, ideas, photos, and videos in unprecedented and captivating ways. The company’s dedication to pushing the boundaries of connectivity and interaction opens up exciting new possibilities for the future of social engagement and virtual exploration. The family products of Apps of Meta include Facebook, Instagram, Messenger, WhatsApp. The Reality Labs products of Meta Platform are aimed at exploring new technologies such as neural interfaces using electromyography which facilitates people control their devices using neuromuscular signals and innovations in artificial intelligence and hardware to build next-generation interfaces. The company employs nearly 72,000 people across 80 cities. Facebook has acquired 66 companies. The total monthly cumulative return for Meta was 95% during the 5-year period August 2018–July 2023 compared to the total monthly cumulative return of 69% for market index Nasdaq Composite. The average book value of equity as percent of market value of equity was 26.8% during the period 2018–2022.

Date: 2024
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DOI: 10.1007/978-3-031-50032-9_90

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