Meta Platforms, formerly called Facebook, joined the $1 trillion market-capitalization group in 2021.
The company first reached a market value of $1 trillion in June 2021, following a strong rise in its share price. At that time, its principal business was the Facebook social network, supported by Instagram, WhatsApp, and Messenger.
Facebook changed its corporate name to Meta Platforms in October 2021. The rebranding emphasized the company’s long-term interest in virtual and augmented reality, while the social-networking services retained their existing names.
Meta’s market capitalization is separate from the size of any individual platform’s user base. The company earns most of its revenue from digital advertising, although Reality Labs develops hardware and software for immersive computing.