23 Facts About Facebook Inc

Facebook Inc owns Facebook, Instagram, and WhatsApp, among other products and services.

In October 2021, the parent company of Facebook changed its name from Facebook, Inc, to Meta Platforms, Inc, to "reflect its focus on building the metaverse".

Facebook Inc urged the company to execute fast and go big on the vision, to shut out HTC, Apple, Google and other competitors in the VR space.

In May 2019, Facebook Inc founded Libra Networks, reportedly to develop their own stablecoin cryptocurrency.

Facebook Inc reported no growth in monthly users, and indicated it expected revenue growth to stall.

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In October 2013, Facebook, Inc acquired Onavo, an Israeli mobile web analytics company.

In February 2014, Facebook, Inc announced it would buy mobile messaging company WhatsApp for US$19 billion in cash and stock.

In late November 2019, Facebook, Inc announced the acquisition of game developer Beat Games, responsible for developing one of the year's most popular VR titles, Beat Saber.

In May 2020, Facebook, Inc announced it had acquired Giphy for a reported cash price of $400 million.

However, in August 2021, UK's Competition and Markets Authority stated that Facebook, Inc might have to sell Giphy, after an investigation found that the deal between the two companies would harm competition in display advertising market.

Facebook, Inc was fined $70 million by CMA for deliberately failing to report all information regarding the acquisition and the ongoing antitrust investigation.

In November 2020, Facebook, Inc announced that it planned to purchase the customer-service platform and chatbot specialist startup Kustomer to promote companies to use their platform for business.

Facebook Inc was the largest spender of lobbying money among the 5 Big Tech companies in 2020.

FTC alleges that Facebook Inc holds monopolistic power in the US social networking market and seeks to force the company to divest from Instagram and WhatsApp to break up the conglomerate.

Facebook Inc noted that tools have been developed for parents to keep track of their children's activity on Instagram and set time limits in addition to Meta's "Take a break" reminders.

Facebook Inc co-founder Chris Hughes has stated that CEO Mark Zuckerberg has too much power, that the company is a monopoly, and that, as a result, it should be split into multiple smaller companies.

European Union Commissioner for Competition Margrethe Vestager stated that splitting Facebook Inc should be done only as "a remedy of the very last resort", and that it would not solve Facebook Inc's underlying problems.

Facebook Inc ranked No 34 in the 2020 Fortune 500 list of the largest United States corporations by revenue, with almost $86 billion in revenue.

In February 2015, Facebook Inc announced it had reached two million active advertisers, with most of the gain coming from small businesses.

US IRS challenged the valuation Facebook Inc used when it transferred IP from the US to Facebook Inc Ireland in 2010, as it was building its double Irish tax structure.

In 2010, Facebook Inc opened its fourth office, in Hyderabad, India, which houses online advertising and developer support teams and provides support to users and advertisers.

Facebook Inc opened its London headquarters in 2017 in Fitzrovia in central London.

Facebook Inc's encountered users as young as 7 years old on the platform, despite Oculus headsets being intended for users over 13.