Meta Platforms

Meta Platforms, Inc.

File:Meta Platforms logo.svg Logo since 2021 rebranding
Company type	Public
Industry	Technology, Social media, Virtual reality, Advertising
Predecessor	TheFacebook, Inc.
Founded	February 4, 2004 (2004-02-04) in Cambridge, Massachusetts, United States
Founder	Mark Zuckerberg
Headquarters	Menlo Park, California , United States
Area served	Worldwide
Key people	Mark Zuckerberg (CEO), Javier Olivan (COO), Andrew Bosworth (CTO), Chris Cox (CPO)
Products	Facebook, Instagram, Threads, Messenger, WhatsApp, Oculus VR hardware and software
Revenue	US$164.5 billion (2024)
Net income	US$62.4 billion (2024)
Number of employees	87,000+ (2022)
Website	about.meta.com

Meta Platforms, Inc. is a leading American multinational technology corporation based in Menlo Park, California. It owns and manages prominent social media networks and messaging services such as Facebook, Instagram, Threads, Messenger, and WhatsApp. Additionally, Meta operates a vast advertising network serving both its own properties and external clients; as of 2023, advertising accounted for 97.8% of the company’s total revenue.

Originally established in 2004 under the name TheFacebook, Inc., it was renamed Facebook, Inc. in 2005. In 2021, the company underwent a rebranding to Meta Platforms, Inc., reflecting a strategic pivot toward developing the metaverse, incorporating both virtual and augmented reality technologies.

Meta is recognized as one of the Big Five technology giants in the United States, alongside Alphabet (Google), Amazon, Apple, and Microsoft. In 2023, it secured the 31st position on the Forbes Global 2000 ranking of the largest publicly traded companies worldwide. In 2022, Meta ranked third globally for research and development investment, allocating US$35.3 billion toward innovation.

The company’s revenue model primarily revolves around social media platforms monetized through digital advertising, which has driven strong financial results including US$164.5 billion in revenue and US$62.4 billion in net income reported for 2024. Meta’s worldwide operations are overseen by top executives such as founder and CEO Mark Zuckerberg, COO Javier Olivan, CTO Andrew Bosworth, and CPO Chris Cox.

History

On January 1, 2012, Facebook submitted its paperwork for an initial public offering (IPO) targeting $5 billion in capital. At that point, the platform had reached 845 million monthly active users with 2.7 billion daily interactions through likes and comments. Following the IPO, founder and CEO Mark Zuckerberg maintained ownership of 22% of shares along with 57% voting control.

Shares were initially priced at $38 each by underwriters, assigning Facebook a valuation of $104 billion—the highest ever for a newly public firm at that time. Due to strong investor interest, Facebook increased its share issuance by 25% before the May 18 IPO date, ultimately raising $16 billion and marking the third-largest IPO in U.S. history. This valuation exceeded that of major companies like Amazon and Disney, boosting Zuckerberg’s personal net worth to $19 billion.

Despite early enthusiasm, Facebook’s stock experienced technical difficulties on Nasdaq during its debut and struggled to maintain prices above the IPO level. Underwriters stepped in to stabilize trading prices which closed at $38.23—just above the initial offering price. The IPO was widely regarded as underwhelming although it set records for trading volume on debut day. Within one week post-IPO, shares dropped by 16.5%, closing at $31.91.

Following the IPO, regulatory authorities investigated whether underwriters provided selective information to certain investors prior to the offering. This scrutiny led to lawsuits claiming investor losses exceeding $2.5 billion and underscored risks faced by retail shareholders.

Facebook was added to the S&P 500 index on December 21, 2013, signifying its expanding market prominence.

In May 2014, Zuckerberg announced a cultural shift from the motto "Move fast and break things" to "Move fast with stable infrastructure," signaling a new focus on balancing rapid growth with operational reliability—a significant change in Facebook’s strategic direction and leadership approach.

2018–2020: Emphasis on the Metaverse

Lasso, Facebook's short-form video platform introduced in 2018 to rival TikTok, was designed for teenage users on both iOS and Android devices but was discontinued in July 2020 to concentrate resources on Instagram Reels.

In 2018, Oculus executive Jason Rubin delivered a comprehensive 50-page proposal titled "The Metaverse" to Facebook’s top management, advocating for swift investment to secure leadership in virtual reality (VR) and prevent competitors such as HTC, Apple, and Google from gaining substantial VR market presence.

In May 2019, Facebook established Libra Networks with the goal of creating a stablecoin cryptocurrency, supported by prominent financial institutions including Visa, Mastercard, PayPal, and Uber. Each partner intended to contribute $10 million toward launching Libra, aiming for a 2021 debut subject to Swiss regulatory approval. However, due to regulatory challenges, Libra was rebranded as Diem before being discontinued and sold off in January 2022.

The COVID-19 pandemic caused a significant rise in demand for digital services worldwide. Mark Zuckerberg described this trend as a "permanent acceleration," leading Facebook to expand its employee base from 48,268 in March 2020 to over 87,000 by September 2022.

2021: Transition to Meta

Facing intense examination and whistleblower disclosures in 2021, Facebook revealed plans for a corporate rebranding as Meta Platforms. During the Q3 2021 earnings call, CEO Mark Zuckerberg highlighted a strategic shift toward developing the metaverse—a digital realm blending social media with virtual and augmented reality—without initially unveiling the new company name. The Meta brand was publicly introduced at Facebook Connect on October 28, 2021, marking a new direction in the company’s long-term vision.

The "Meta" trademark had been registered in the United States since 2018 by a Canadian firm specializing in big data analysis of scientific publications. This firm had been acquired in 2017 by the Chan Zuckerberg Initiative (CZI), a philanthropic organization founded by Zuckerberg and his wife Priscilla Chan. Following Meta Platforms’ rebranding announcement, CZI opted to discontinue its original Meta project by 2022 and transferred the trademark rights to Facebook’s parent company, unifying the brand identity under the new corporate framework.

2022: Profit Declines and Extensive Layoffs

After rebranding, Meta reported a steeper-than-anticipated drop in Q4 2021 profits, with stagnant monthly user counts and flat revenue growth projections. Apple’s privacy updates were expected to reduce Meta’s advertising revenue by approximately $10 billion—around 8% of its total revenue for 2021. CEO Mark Zuckerberg attributed these difficulties to intensified competition for user engagement, particularly from video-focused apps like TikTok.

Meta’s stock price fell by 27%, wiping out nearly $230 billion in market value. Bloomberg characterized this as an unprecedented market downturn, with Zuckerberg’s personal wealth decreasing by up to $31 billion due to his 13% ownership stake.

In March 2022, reports surfaced that Meta had mistakenly shared user data with hackers impersonating law enforcement via fraudulent requests; Meta stated that it conducts thorough reviews of all such data inquiries. That same June, COO Sheryl Sandberg announced her exit after a 14-year tenure and was succeeded by Javier Olivan in a more conventional executive capacity.

Also in March, Meta partnered with Luxottica to launch Ray-Ban Stories smart glasses featuring music playback and photo-taking functionalities. Although sales figures remained undisclosed through late 2022, Meta reported favorable customer responses.

By July 2022, Meta recorded its first annual revenue decline—a decrease of 1% to $28.8 billion—attributed to Apple’s App Tracking Transparency limiting ad targeting capabilities and mounting competition from TikTok. By October, Meta’s market capitalization had dropped to $268 billion—a loss nearing $700 billion since 2021—resulting in its exit from the list of the top 20 U.S. companies by market value.

In November 2022, Meta cut approximately 11,000 jobs (about 13% of its workforce). Zuckerberg cited factors such as overexpansion based on pandemic-related e-commerce growth forecasts, heightened competition, a global economic slowdown, and diminished advertising effectiveness. Additional layoffs affecting around 10,000 employees commenced in April 2023. These workforce reductions mirrored broader cutbacks across major tech firms including Google, Amazon, Tesla, Snap, Twitter, and Lyft.

Starting in 2022, Meta accelerated its transition toward specialized artificial intelligence hardware and software solutions after previously relying on less efficient CPUs rather than GPUs for AI workloads—a strategic adjustment aimed at restoring competitive strength in AI technology.

Developments Since 2023: Threads, Artificial Intelligence, and Record Stock Performance

In 2023, Meta was hit with a historic EUR 1.2 billion fine by Ireland’s Data Protection Commissioner due to inadequate safeguards when transferring European user data to the United States. That March, the company announced a workforce reduction involving 10,000 job cuts and the elimination of 5,000 roles as part of an efficiency drive. Despite these organizational changes, Meta’s revenue for the first quarter of 2023 surpassed analysts’ projections, largely fueled by intensified investment in AI technologies. On July 6, Meta introduced Threads, positioning it as a rival to Twitter.

During July 2023, Meta unveiled its AI platform Llama 2 for commercial deployment through collaborations with cloud service providers including Microsoft. Unlike earlier iterations restricted to academic circles, Llama 2 was released under an open-source framework to encourage user feedback and iterative enhancement.

In August 2023, Meta ceased displaying news content on Facebook and Instagram within Canada due to the Online News Act, which mandates compensation to news organizations. By October, CEO Mark Zuckerberg declared artificial intelligence as Meta’s primary focus area for investment in 2024. Closing out 2023, Meta emerged as one of the top-performing technology stocks, with shares appreciating by 150% and approaching a $1 trillion valuation by January 2024.

November 2023 saw Meta launch an ad-free subscription option across Europe, enabling users to avoid targeted advertising data collection; however, this initiative drew criticism from privacy advocates concerned about potential conflicts with GDPR regulations.

In February 2024, Meta removed accounts associated with Iran’s Supreme Leader Ali Khamenei due to violations of platform policies. The company also came under investigation by the FDA over purported illegal drug sales facilitated via its platforms, while a European Union inquiry into child safety issues commenced in May 2024.

A significant scam exploiting Meta’s copyright enforcement tools emerged mid-2023 targeting influencers in the Middle East, highlighting ongoing challenges in moderating content within emerging markets. In September 2024, Meta globally banned Russian state media outlets amid accusations of covert funding aimed at influence operations.

At its 2024 Connect event, Meta revealed its Orion AR glasses but suspended consumer availability citing production complexities and high costs; the focus shifted toward internal applications instead. In October, the company announced Movie Gen—an AI-driven system capable of generating lifelike video and audio content intended for integration with creators rather than broad public access.

ProPublica’s October 2024 investigation exposed political advertisement scams exploiting weaknesses in Meta’s enforcement mechanisms. The following month brought reports that Meta planned a $10 billion global underwater cable extending approximately 25,000 miles alongside shutting down more than two million scam-related accounts across Asia and the Middle East.

Beginning February 2025, Meta will mandate financial services advertisers in Australia to verify both beneficiary and payer details as part of anti-scam measures. In December 2024, the firm pledged $10 billion toward constructing its largest AI data center located in Louisiana, powered by natural gas.

A worldwide outage on December 11 disrupted all Meta services simultaneously, with tens of thousands reporting problems within minutes. In January 2025, Meta scaled back diversity, equity, and inclusion programs citing legal changes following the US presidential election and adjusted moderation policies to align with the incoming Trump administration. Controversially, new hate speech guidelines permitted derogatory language directed at LGBTQ communities. That same month, Meta resolved a $25 million lawsuit with Donald Trump regarding his account suspension after the January 6 Capitol events.

By June 2025, Meta planned a multibillion-dollar investment exceeding $10 billion into AI startup Scale AI—marking one of the largest private funding rounds ever—and reinforcing its strategic position as a leader in artificial intelligence innovation.

Mergers and acquisitions

Meta has expanded its portfolio through numerous acquisitions, frequently focusing on securing talented teams. One of its earliest significant purchases was Instagram in April 2012, acquired for roughly US$1 billion in a combination of cash and stock. In October 2013, Meta took over the Israeli mobile web analytics company Onavo. The following year, in February 2014, it completed the acquisition of mobile messaging service WhatsApp for $19 billion, paid in cash and stock. Later in 2014, Meta bought Oculus VR for $2.3 billion, leading to the release of its inaugural consumer VR headset in 2016. In November 2019, Meta added game developer Beat Games, creator of the popular VR title Beat Saber, to its roster. After rebranding to Meta Platforms in 2021, Oculus was renamed Meta Quest.

In May 2020, Meta acquired Giphy for around $400 million to enhance Instagram's integration capabilities. However, the UK's Competition and Markets Authority (CMA) raised antitrust concerns regarding competition in display advertising, resulting in a $70 million penalty against Meta for failing to disclose information during the investigation. By October 2022, the CMA mandated that Meta divest Giphy due to its substantial share in the UK advertising market. Meta consented to sell Giphy and finalized the transaction with Shutterstock for $53 million in May 2023.

In November 2020, Meta revealed plans to purchase customer service startup Kustomer, valued at over $1 billion, aiming to bolster its business service offerings. This acquisition received regulatory approval and was completed in February 2022.

In September 2022, Meta acquired Lofelt, a Berlin-based startup specializing in haptic technology, to further develop its virtual reality innovations.

Lobbying

In 2020, Facebook, Inc. allocated $19.7 million toward lobbying efforts, engaging 79 lobbyists—a rise from $16.7 million and 71 lobbyists in 2019, and $12.6 million with 51 lobbyists in 2018. This made it the leading lobbying spender among major technology firms that year. The lobbying team includes prominent congressional aide John Branscome, who joined in September 2021 to assist in addressing regulatory challenges posed by lawmakers and the Biden administration.

In December 2024, Meta contributed $1 million to the inauguration fund for then-President-elect Donald Trump.

Censorship

In August 2024, Mark Zuckerberg disclosed that during the COVID-19 pandemic, the Biden administration repeatedly urged Meta to restrict certain COVID-19-related content on Facebook and Instagram, including satirical and humorous posts.

In 2016, Meta appointed Jordana Cutler as policy chief for Israel and the Jewish Diaspora; she pushed for censorship of Students for Justice in Palestine accounts within the United States, sparking concerns about potential Israeli government influence on Meta’s policies.

Following Donald Trump's election in 2025, allegations emerged regarding possible censorship linked to the Democratic Party on Instagram and other Meta platforms. In February 2025, a Meta spokesperson identified journalist Gil Duran's critiques of technology leaders as sensitive content, thereby limiting their visibility.

In March 2025, Meta attempted to prevent former employee Sarah Wynn-Williams from promoting her memoir Careless People, which details claims of sexual harassment by senior executives within the company. This arbitration marks one of Meta’s most forceful efforts to suppress an ex-employee’s account of internal misconduct. Publisher Macmillan announced it would disregard the tribunal’s decision. As of March 2025, both print and digital editions of Careless People remain accessible via major online retailers.

Concerns Regarding Disinformation

Meta has repeatedly been accused of facilitating the spread of false information and fabricated news. In response to criticism following the 2016 U.S. presidential election, CEO Mark Zuckerberg launched initiatives aimed at reducing the prevalence of fake news, as the platform faced scrutiny for its potential impact on the election results. To address this, Meta collaborated with various fact-checking entities including ABC News, the Associated Press, FactCheck.org, Snopes, and PolitiFact. By 2018, the company had established partnerships with over 40 fact-checking organizations worldwide, among them The Weekly Standard.

Nonetheless, a 2017 investigation by The Guardian concluded that these measures had limited success in mitigating misinformation. In 2018, several fact-checkers involved with Meta publicly expressed dissatisfaction with the collaboration’s effectiveness and alleged that their concerns were disregarded.

In 2024, Meta faced renewed criticism after permitting a doctored video of U.S. President Joe Biden to remain accessible on its platform despite confirmation of its inauthenticity. This incident intensified scrutiny over Meta’s content moderation policies and enforcement mechanisms.

False Information and Hate Speech

In January 2025, Meta transitioned from employing external fact-checkers to implementing a community-driven community notes system akin to that used by X. CEO Mark Zuckerberg endorsed this change, citing concerns about excessive censorship; however, fact-checking organizations criticized it for complicating the identification of false information. Additionally, Meta encountered backlash for loosening hate speech regulations that previously safeguarded minority groups and LGBTQ+ individuals from harassment and discrimination.

As part of relocating content moderation teams from California to Texas, Meta lifted restrictions on hate speech targeting LGBTQ+ and immigrant communities. This policy adjustment permitted users to label LGBTQ+ individuals as mentally ill due to their sexual orientation or gender identity, provoking considerable criticism from advocacy organizations and industry analysts.

Moreover, efforts by Meta to limit anti-LGBTQ+ hate speech resulted in the removal of various posts featuring LGBTQ+ themes or celebrating pride and rights advocacy. Critics argued that content moderation was inconsistently enforced, diminishing visibility and expression opportunities for LGBTQ+ communities on Meta’s platforms. These developments raised concerns about their potential effects on user engagement and community support within historically significant outreach environments.

Legal Actions

Meta Platforms, formerly known as Facebook, Inc., has been subject to numerous lawsuits addressing issues such as privacy breaches, antitrust violations, labor disputes, and content moderation challenges.

In March 2020, Australia's Office of the Australian Information Commissioner initiated legal action against Meta for privacy infringements linked to the Cambridge Analytica scandal, which impacted more than 311,000 Australians and exposed the company to substantial fines.

On December 8, 2020, the U.S. Federal Trade Commission along with 46 states filed an antitrust lawsuit accusing Meta of monopolistic practices through its acquisitions of Instagram and WhatsApp. The FTC seeks divestiture of these subsidiaries to restore competitive balance; however, experts acknowledge that this legal battle is complex.

In December 2021, a Russian court imposed a $27 million fine on Meta for failing to remove prohibited content, a penalty connected to its local revenue streams.

In May 2022, a lawsuit was filed in Kenya against Meta concerning substandard working conditions for outsourced content moderators employed through Sama. The suit demands equal health benefits and wage parity with direct Meta employees. Subsequently in June 2022, eight lawsuits were lodged in the United States alleging that Meta’s platforms contributed to mental health problems among youth; Meta responded by emphasizing available parental controls and AI-based safety features.

Also in June 2022, Meta reached a settlement with the U.S. Department of Justice over accusations that its targeted advertising practices enabled housing discrimination in violation of the Fair Housing Act. The agreement included a $115,054 fine and requirements for oversight of advertising algorithms.

Meta has incurred significant penalties related to data privacy violations: €390 million in January 2023 under European Union GDPR regulations and a record €1.2 billion fine in May 2023 imposed by the European Data Protection Board for unlawful data transfers to servers located in the United States.

In July 2024, Meta consented to a $1.4 billion settlement with Texas authorities concerning unauthorized collection of biometric data—marking the largest privacy-related settlement secured by a state attorney general.

In October 2024, thirty plaintiffs filed a lawsuit against Meta in Japan alleging fraud stemming from counterfeit investment advertisements displayed on Facebook and Instagram; they are seeking damages totaling $2.8 million.

In April 2025, Kenya’s High Court allowed a $2.4 billion lawsuit implicating Facebook in exacerbating Ethiopia’s civil conflict to proceed. During the same month, Meta was fined €200 million for breaching the EU Digital Markets Act by enforcing a “consent or pay” scheme related to data usage and ad targeting.

Also in April 2025, new lawsuits emerged in Ghana accusing Meta of causing psychological harm to content moderators exposed to distressing material. Following relocation of moderation operations from Kenya to Accra under Teleperformance—a multinational company with prior labor rights controversies—reports surfaced indicating deteriorating working conditions, mental health struggles among employees, and fears of retaliation.

These ongoing legal proceedings underscore persistent risks associated with Meta’s business practices concerning regulatory adherence, labor standards, and platform accountability across its global operations and market influence.

UReputation

In 2020, UReputation, recognized for its role in overseeing digital influence operations, initiated legal proceedings against Facebook, accusing the platform of improperly sharing personal information with external entities. These lawsuits were filed across Tunisia, France, and the United States. By 2025, the U.S. District Court for the Northern District of Georgia authorized discovery measures, granting UReputation access to confidential Meta internal records.

Management

The executive team leading Meta consists of:

• Mark Zuckerberg, chairman and chief executive officer
• Javier Olivan, chief operating officer
• Sir Nick Clegg, president of global affairs
• Susan Li, chief financial officer
• Andrew Bosworth, chief technology officer
• David Wehner, chief strategy officer
• Chris Cox, chief product officer
• Jennifer Newstead, chief legal officer

As of , Meta's workforce numbered 83,553 employees worldwide.

Board of directors

As of , Meta's board members included:

• Mark Zuckerberg (chairman, co-founder, controlling shareholder, and CEO)
• Peggy Alford (non-executive director; EVP, global sales at PayPal)
• Marc Andreessen (non-executive director; co-founder and general partner of Andreessen Horowitz)
• Drew Houston (non-executive director; chairman and CEO of Dropbox)
• Nancy Killefer (non-executive director; senior partner at McKinsey & Company)
• Robert M. Kimmitt (non-executive director; senior international counsel at WilmerHale)
• Tracey Travis (non-executive director; EVP and CFO at Estée Lauder Companies)
• Tony Xu (non-executive director; chairman and CEO of DoorDash)
• Hock Tan (CEO of Broadcom)
• John D. Arnold (former executive at Enron)
• Dana White (non-executive director; president and CEO of the UFC)
• John Elkann (chairman of Stellantis and CEO of Exor)
• Charlie Songhurst

Ownership

Institutional investors hold approximately 80% of Meta Platforms' shares, while insiders retain the majority of voting authority. In 2024, the leading individual shareholders were Mark Zuckerberg, Sheryl Sandberg, and Christopher K. Cox.

Key shareholders as of late 2024 and early 2025 include:

• Mark Zuckerberg – 13.5%
• The Vanguard Group – 8.8%
• BlackRock – 7.66%
• Fidelity Investments – 6.28%
• State Street Corporation – 3.97%
• JPMorgan Chase – 2.38%
• Geode Capital Management – 2.27%
• T. Rowe Price – 1.95%
• Capital World Investors – 1.86%
• Capital Research Global Investors – 1.7%
• Morgan Stanley – 1.66%

Corporate governance

Roger McNamee, an early investor in Facebook and former mentor to Mark Zuckerberg, characterized the company's decision-making process as heavily centralized.

Facebook co-founder Chris Hughes criticized the CEO's consolidation of authority, labeling the company a monopoly and calling for its division to improve responsibility. In an op-ed for the New York Times, Hughes contended that Zuckerberg surrounds himself with executives who do not challenge him, urging governmental action to curtail his "unchecked power." This viewpoint received backing from various U.S. lawmakers.

Margrethe Vestager, the European Commissioner for Competition, warned that breaking up Facebook should be considered only as a "last resort" and would fail to resolve the fundamental issues facing the company.

Revenue

Revenue
(in millions of USD)

Year	Revenue $	Growth %
2004	$Template:Nts	—
2005	Template:Nts	2150
2006	Template:Nts	433
2007	Template:Nts	219
2008	Template:Nts	83
2009	Template:Nts	177
2010	Template:Nts	158
2011	Template:Nts	86
2012	Template:Nts	37
2013	Template:Nts	55
2014	Template:Nts	58
2015	Template:Nts	44
2016	Template:Nts	54
2017	Template:Nts	47
2018	Template:Nts	37
2019	Template:Nts	27
2020	Template:Nts	22
2021	$Template:Nts	37
2022	Template:Nts	-1
2023	Template:Nts	16
2024	Template:Nts	22

In the Fortune 500 ranking for the year 2020, Facebook secured the No. 34 position with revenue approaching $86 billion, predominantly generated through advertising. A study based on data from 2017 revealed advertising revenue of $20.21 per user.

Following its transition to Meta, the company reportedly experienced a loss of $500 billion attributed to privacy policy changes implemented by Apple and Google that restrict data gathering, adversely affecting its business model and revenue expansion.

Revenue distribution by region (2024)

Market	Revenue	Percentage share
United States	$59.7 billion	36.3%
Europe	$38.4 billion	23.3%
Asia-Pacific (excluding China)	$26.7 billion	16.2%
China	$18.4 billion	11.2%
Rest of World	$17.9 billion	10.9%
Canada	$3.5 billion	2.1%

Advertiser count

In February 2015, Facebook revealed it had reached a milestone of two million active advertisers, predominantly small enterprises. An active advertiser was classified as one who had run ads on the platform within the preceding 28 days. By March 2016, this figure increased to three million, with over 70% originating from outside the United States. Advertising costs are determined through a dynamic auction system that considers placement and potential user engagement. Meta’s revenue model capitalizes on targeted marketing and "lookalike" audiences by analyzing users’ viewing patterns, likes, shares, and purchasing behaviors to boost ad performance.

Tax matters

The U.S. Internal Revenue Service disputed Facebook’s valuation of intellectual property transferred to Facebook Ireland (now Meta Platforms Ireland) in 2010 as part of its international tax planning, leading to an ongoing tax investigation valued between $3 billion and $5 billion. The 2017 U.S. Tax Cuts and Jobs Act influenced Meta’s worldwide tax framework: Meta Platforms Ireland is subject to a U.S. GILTI tax rate of 10.5% on Irish earnings, effectively about 11%, compared to a 13.125% intellectual property tax if those assets were moved back to the U.S. Despite these tax implications, Facebook relocated 1.5 billion non-European Union accounts to the United States to minimize GDPR-related regulatory risks, demonstrating strategic shifts in its global operations driven by tax policies and regulatory environments.

Corporate offices

Meta manages its international business through its Irish subsidiary, Meta Platforms Ireland Limited, enabling it to utilize the Double Irish tax scheme and benefit from a reduced corporate tax rate of approximately 2–3% on global revenues. In 2010, Meta expanded into Hyderabad, India, focusing on online advertising and developer support under the local entity Facebook India Online Services Pvt Ltd. Additional support centers are located in Chittagong, Dublin, California, Ireland, and Austin, Texas.

Meta inaugurated its London headquarters in Fitzrovia in 2017 and opened an office in Cambridge, Massachusetts in 2018, initially housing the "Connectivity Lab," which works on expanding internet accessibility. In April 2019, Meta launched its Taiwan headquarters in Taipei. The company further broadened its regional presence by establishing a headquarters in Dubai in March 2022.

In September 2023, Meta paid £149 million to British Land to terminate its lease at Triton Square in London despite having 18 years remaining on the agreement.

Data centers

By 2023, Facebook operated a total of 21 data centers globally and committed to sourcing 100% renewable energy while aiming to reduce greenhouse gas emissions by 75% by the year 2020. Its data center infrastructure incorporates Fabric Aggregator technology—a distributed network system designed to handle larger geographic areas and diverse traffic demands.

Public response

U.S. Representative Alexandria Ocasio-Cortez condemned Zuckerberg’s announcement regarding Meta, describing the company as a "cancer to democracy metastasizing into a global surveillance and propaganda machine for boosting authoritarian regimes and destroying civil society for profit." Former Facebook employee and whistleblower Frances Haugen voiced skepticism about the company’s prospects for improvement under Zuckerberg’s leadership and called for his resignation.

In November 2021, Inspired by Iceland released a viral parody video mocking Zuckerberg’s Meta launch through the "Icelandverse," which touted "enhanced actual reality without silly looking headsets." SpaceX and Tesla CEO Elon Musk dismissed the VR-centric metaverse concept as unappealing and stated he failed to see any compelling practical applications.

In January 2022, Louise Eccles of The Sunday Times recounted her experience within the metaverse, noting initial engagement with virtual meetings and activities but also encountering harassment and predatory conduct. Eccles reported exposure to racist, sexist, homophobic, and transphobic language as well as users below the intended minimum age of 13 accessing Oculus platforms.

See also

• Big Tech
• Criticism of Facebook
• Facebook–Cambridge Analytica data scandal
• 2021 Facebook leak
• Meta AI
• The Social Network