Facebook: Net Worth, Plans, Share Market, Launches, and more
Meta Platforms owned Facebook, a social media and social networking service provider, was founded in 2004 by Mark Zuckerberg along with his friends. Since then, it has been an essential part of modern-day life.
Facebook Net Worth:
Facebook, which generated about $86 billion in sales in 2019, was ranked No. 34 on the 2020 Fortune 500 list of the top American firms by revenue. Advertisement is the major Source of Income for Facebook. Mark Zuckerberg, Fb founder’s net worth is 64.7 billion as of August 2022. As of 2022, the Fb’s net worth is expected to be $430 billion.
Future Plans for Facebook
According to CEO Mark Zuckerberg, Facebook has changed its name to “Meta,” and going forward the company will put the “metaverse first,” so you won’t need a Facebook account to utilise other Meta products. It also suggests that the company would divide its activities into two groups: one for its app family and another for its forthcoming platform projects (the latter group will be known as Reality Labs). The metaverse will effectively be an online embodiment, according to Zuckerberg, who thinks it will be the next integrated form of virtual media to appear after video (which evolved from photos and texts).
As opposed to looking at a screen, these activities will allow you to fully immerse yourself. That can most likely be accomplished by encouraging a strong sense of presence in a group context, which would serve as the characteristic that would distinguish the metaverse. For this, the business will need to supply hardware like the Oculus Quest 2 or other versions. Also, the company is thinking of offering incentives to new users and developers to sign up. Cost-cutting measures, technology subsidies, and products sold at a loss are some of the options available.
Facebook(Meta) Launches New Features:
Instagram automatically shares new videos as Reels
Over the past few months, both Facebook and Instagram have placed a lot of emphasis on Reels. Certainly, in July we received more Reels updates! Now all standard video posts will be full-screen. All new videos that are less than 15 minutes long will be posted as Reels by default. The profile tabs for Videos and Reels will be combined as part of this upgrade. As a result, going ahead, all video posts may utilise Reels’ sophisticated editing features. Reels won’t be created from In-feed videos that were uploaded before this update.
Launch of Small Business Studios by Meta
Small Business Studios, a hub of resources for companies and marketers wishing to expand on the platform, has been officially launched by Meta. In addition to a collection of video courses available on demand, the Small Business Studios will feature a tour of five significant US cities with a focus on peer networking and education for small company owners Expert 30 minute one-on-one Meta marketing support for everything from resolving technological problems to developing brand strategies The live tour began in Detroit on July 20-21 and will also stop in Columbus, Kansas City, Austin, and San Diego between August 3–4 and September 21–22. (October 12-13).
Now You can Boost Reels as well:
Reels are more important to both marketers and casual users, and the Instagram app now makes it simple to boost them. Reels that have been promoted will appear in user feeds, Stories, and Reels tabs. The video has to be no longer than 60 seconds. The file’s aspect ratio must be 9:16. (vertical full screen) No third-party intellectual property, including copyrighted music, interactive stickers, camera filters, or GIFs, may be used in The Reel.
Facebook Inc went public with its first-ever IPO in 2012 at a price of $38 per share which is now has reached to USD 180.50. Early on, the price fell to under $18 per share before recovering to its current level.The stock reached its all-time high on September 10, 2021, at a price of $ 378.69.
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