"Meta Platforms(NASDAQ: META) has come a long way from its origins as a platform to connect students to its current status as a social media powerhouse and leader in the ongoing artificial intelligence revolution. Meta Platforms was originally founded as TheFacebook in 2004 by Mark Zuckerberg and fellow Harvard students Eduardo Saverin, Andrew McCollum, Dustin Moskovitz, and Chris Hughes. It began as a social networking site for Harvard students and quickly expanded to other universities and colleges."
"Facebook rapidly expanded its social media dominance through key acquisitions, including Instagram in 2012 and WhatsApp in 2014. In October 2021, the parent company rebranded to Meta Platforms to reflect a new strategic focus on building the metaverse, an interconnected digital ecosystem blending virtual and augmented reality. While this approach garnered mixed success, the company has more recently shifted its focus to AI and is investing heavily in AI research and development, including advanced convers"
Meta's family of apps serves over 3.5 billion daily active users, producing powerful network effects and a high-value advertising platform. AI integrations are enhancing user engagement and advertising efficiency across products. Capital expenditures for AI, infrastructure, and metaverse initiatives have risen and represent a significant cost. The advertising business generates strong cash flow that can fund research, development, and large strategic investments. The company began in 2004 as TheFacebook at Harvard and evolved through public membership expansion and a 2012 IPO. Major acquisitions include Instagram (2012) and WhatsApp (2014). The company rebranded to Meta Platforms in October 2021 and is now prioritizing AI development.
Read at The Globe and Mail
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