Meta Platforms changed its corporate name from Facebook to Meta in October 2021 and ranks among the world's largest companies by market capitalization.
The rebranding reflected the company’s growing focus on the metaverse, a term for persistent, immersive digital environments. The social-networking service itself retained the name Facebook, while the parent corporation adopted Meta Platforms, Inc.
Meta was founded in 2004 by Mark Zuckerberg, Eduardo Saverin, Andrew McCollum, Dustin Moskovitz, and Chris Hughes. Its major products include Facebook, Instagram, Messenger, and WhatsApp.
A common mix-up is treating Meta as the name of Facebook’s social network. Meta is the parent company; Facebook is one of its platforms. Market capitalization also changes daily with share prices, so rankings can move.