- Facebook is one of the earliest and most popular social media platforms in the world.
- It belongs to Meta Platforms, Inc.
- The net worth of Meta Platforms in 2023 is $782.45 Billion (approx.)
- The company is investing heavily in virtual reality (VR), and augmented reality (AR) projects.
- Despite facing stiff competition from TikTok and Snapchat, Facebook has the most number of active social networking users.
Facebook is a platform that makes social media accessible to the common public in the true sense. With over 3 billion active users, it is also one of the most profitable companies in the world. It is part of its parent company Meta Platforms, Inc. or Meta.
According to various reports, Facebook’s Net Worth in 2023 is $782.45 Billion. Please note that here I am talking about the net worth of Meta which also includes Instagram, Threads, and WhatsApp.
Facebook is considered one of the Big Five American Information Technology (IT) companies along with Amazon, Alphabet, Microsoft, and Appl. In this post, I will take you through Facebook’s journey from just a college project to becoming the biggest social media platform on the planet.
An Introduction to Facebook (Meta)
|Company Name||Meta (formerly Facebook)|
|Founded||February 4, 2004|
|Headquarters||Menlo Park, California, USA|
|Industry||Technology, Social Media|
|Products and Services||Social networking platforms, Messaging apps (WhatsApp, Messenger), Virtual reality (Oculus), Advertising services, Workplace collaboration platforms, and more|
|Number of Monthly Active Users||3 Billion +|
|Revenue (2022)||$116 Billion|
|Mission||To bring the world closer and give people the power to build community.|
|Key Acquisitions||Instagram (2012), WhatsApp (2014), Oculus VR (2014)|
|Competitors||Twitter (X), Snapchat, TikTok, etc.|
Income and Net Worth of Facebook (Meta Platforms) in 2023
We all know Facebook or Meta Platforms is a massive company. It generates revenue of billions of dollars every year. In the year 2022, Meta generated a revenue of $116.8 Billion out of which $65 came from Facebook only.
Interestingly, Facebook generated $54.5 Billion from the US & Canada while 13% of its users are from this region. It is a profitable company with a previous year’s net profit of more than $23 Billion.
In the first two quarters of 2023, Facebook’s revenue has crossed $60 Billion. Experts have forecasted that it will reach the mark of $120 Billion by the end of this year.
|Year||Annual Revenue of Meta Platforms|
|2023||$60 Billion + (in the first two quarters)|
100% of Meta’s Operating Income is generated from its family of apps which include Facebook, Instagram, Messenger, and WhatsApp. However, a big chunk of the company’s revenue is also generated from Reality Labs (augmented and virtual reality products and services branch of Meta).
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How Facebook Makes Money?
Keeping the numbers aside, it is quite interesting how Meta or Facebook make billions of dollars of profit every year. One of the main sources of their income is advertising. Companies pay Facebook to show ads to its users.
These ads appear on the Facebook platform while people are scrolling through their feeds. Facebook earns even more when users click on these ads or engage with them.
Another way Facebook makes money is through its virtual currency called Facebook Credits. People can buy these credits and use them to purchase virtual goods or play games on the platform. Facebook takes a small percentage of each transaction as revenue.
Additionally, Meta Platforms also get a lot of money through its virtual reality subsidiary, Oculus. It makes virtual reality headsets and accessories.
Journey of Facebook from Early Days to Present
To say the least, I can say that the journey of Facebook and its founder Mark Zuckerberg has been fascinating. Zuckerberg created Facebook as a small website in 2004 along with his friends in his college dorm room.
Initially, it was intended only for Harvard University students. Soon, it expanded to other universities. A few years later, Facebook became so popular and people from all over the world started joining the platform to connect with friends and family.
When Facebook was created, it only had a few limited features. But, it keeps evolving and introducing new functionalities. It provided the ability to post photos, videos, and even live-stream events.
In recent years, Facebook has continued to evolve and expand. It acquired several other popular social media platforms like Instagram and WhatsApp. The company has also invested in new technologies like virtual reality and augmented reality.
In 2021, Facebook rebranded itself as Meta. With this new name, they want to focus on the future and build technology. It’s not just a social media platform anymore. It is a whole company with many different products. They have Instagram, WhatsApp, and more.
List of Major Acquisitions by Facebook (Meta)
Check out the following list to understand how Facebook became massive. You can see in this list the major companies under the Meta brand.
|Company||Acquired On||Deal Amount|
|facebook.com domain name||August 23, 2005||$200,000|
|ConnectU||June 23, 2008||$31,000,000|
|FriendFeed||August 10, 2009||$47,500,000|
|Friendster patents||May 13, 2010||$40,000,000|
|Drop.io||October 29, 2010||$10,000,000|
|FB.com domain name||November 15, 2010||$8,500,000|
|Snaptu||March 20, 2011||$70,000,000|
|April 9, 2012||$1,000,000,000|
|Face.com||June 18, 2012||$100,000,000|
|February 19, 2014||$19,000,000,000|
|Oculus VR||March 25, 2014||$2,000,000,000|
|Scape Technologies||February 2020||$40,000,000|
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Key financial stats for Meta – Profit, Assets, and More
Here are some detailed stats about Meta’s assets and profits.
|Year||Net Income||Total Assets||Market Cap|
|2012||$0.03 Billion||$16.2 Billion||$63.1 Billion|
|2013||$1.4 Billion||$40.6 Billion||$139.2 Billion|
|2014||$2.9 Billion||$64.1 Billion||$216.7 Billion|
|2015||$3.6 Billion||$84.5 Billion||$296.6 Billion|
|2016||$10.1 Billion||$97.3 Billion||$331.6 Billion|
|2017||$15.9 Billion||$128.9 Billion||$512.8 Billion|
|2018||$22.1 Billion||$167.4 Billion||$374.1 Billion|
|2019||$18.4 Billion||$156.3 Billion||$585.4 Billion|
|2020||$29.1 Billion||$165.8 Billion||$778 Billion|
|2021||$39.3 Billion||$166 Billion||$935.6 Billion|
|2022||$23.1 Billion||$184.5 Billion||$545.4 Billion|
The key management of Meta consists of the following people.
- Mark Zuckerberg – Chairman and Chief Executive Officer
- Andrew Bosworth – Chief Technology Officer
- Sir Nick Clegg – President, Global Affairs
- Javier Olivan – Chief Operating Officer
- Susan Li – Chief Financial Officer
- Jennifer Newstead – Chief Legal Officer
- Chris Cox – Chief Product Officer
- David Wehner – Chief Strategy Officer
Some Less-Known Facts about Facebook
- The iconic “Like” button on Facebook was almost called “Awesome”.
- Facebook’s color scheme is intentionally blue because Mark Zuckerberg is red-green colorblind.
- An average Facebook user spends 58 minutes on the platform every day.
- Facebook’s headquarters in Menlo Park, California, is known as the “Facebook Campus”.
- Facebook’s first-ever advertisement was in 2004 and it was called “Flyers”.
- The Facebook marketplace and ads platform was first launched in November 2007.
- Facebook’s “Friends Day” is celebrated every year on 4th February. It marks the anniversary of the creation of Facebook by Mark Zuckerberg.
- The roof of Facebook’s headquarters has a garden with walking trails. The size of this garden is about 9 acres.
Frequently Asked Questions
How many employees does Facebook have?
Currently, Facebook has more than 83000 employees worldwide.
Why did Facebook change its name to Meta?
It is so because it aligns better with the company’s long-term vision of creating a metaverse.
What are the new technologies that Meta is working on?
They are investing heavily in virtual reality (VR), and augmented reality (AR).
Do Facebook and Instagram belong to the same company?
Yes, they both belong to Meta Platforms.
What is Facebook’s Net Worth in 2023?
It is around $782.45 Billion.
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Post by: Findy
category by: Net Worth