Meta Platforms adopted its corporate name in 2021 as it emphasized building the metaverse.
Facebook announced the change to Meta Platforms on October 28, 2021. The social-networking service kept the name Facebook, while the parent company used the new name to represent a broader collection of products and long-term projects.
Meta owns Facebook, Instagram, WhatsApp, and Messenger, giving it several of the world’s most widely used communication platforms. Its Reality Labs division develops virtual-reality and augmented-reality hardware and software.
The corporate rename did not automatically increase or decrease market capitalization. Investors value the parent company through its publicly traded shares, and the share price can reflect expectations about advertising, user growth, artificial intelligence, and metaverse spending.