Meta changed its name from Facebook in 2021 while continuing to own Instagram and WhatsApp.
Facebook, Inc. announced its corporate name change to Meta Platforms, Inc. in October 2021. The change reflected an effort to present the company as broader than its original social-networking service and to emphasize long-term work on the metaverse.
The company’s major consumer platforms remained Facebook, Instagram, and WhatsApp. Meta also operates Messenger and develops hardware such as Quest virtual-reality headsets through its Reality Labs division. Its advertising business continues to be closely connected to activity across its family of apps.
The rename created a common source of confusion: Facebook is still the name of a social-media platform, while Meta is the name of the parent corporation. Meta’s market capitalization is therefore based on the publicly traded company that owns these businesses, not just on the Facebook app by itself.