Meta Platforms operates Facebook and Instagram and joined the $1 trillion market-capitalization club in 2021.
The company reached a market value of at least $1 trillion in June 2021, when it was still named Facebook, Inc. It changed its corporate name to Meta Platforms in October 2021 to emphasize its interest in building the metaverse and related virtual and augmented-reality technologies.
Meta’s family of apps includes Facebook, Instagram, Messenger, and WhatsApp. Advertising has historically provided most of its revenue, with the company using large user networks and data-driven targeting to sell digital advertising.
The corporate name changed, but the Facebook social network kept its product name. That distinction causes occasional confusion: Meta is the parent company, while Facebook is one of its major services. Meta’s market capitalization moves with advertising conditions, user growth, regulation, and investor expectations for new technologies.