Meta Platforms owns Facebook and Instagram, two platforms supporting its multibillion-dollar market value.
The company was called Facebook, Inc. until it changed its corporate name to Meta Platforms in October 2021. Facebook remains the name of one of its social networks, while Meta describes the broader corporate group.
Meta also owns WhatsApp and Messenger. Its principal business has historically been digital advertising, using large online platforms to connect advertisers with audiences.
The company’s market capitalization is affected by user growth, advertising demand, spending on artificial intelligence, and investment in virtual and augmented reality. The name change did not mean that Facebook, Instagram, or WhatsApp stopped operating as consumer brands.