Tag: meta

BUSINESS

Meta Declares First Dividend

Meta Platforms issued its first dividend days ahead of flagship social network Facebook’s 20th anniversary while reporting revenue and profit that beat expectations on robust ad sales in the holiday shopping period. Shares soared more than 14 percent after the bell, pushing the company’s stock market valuation up by more than $140 billion and extending a long recovery that saw […]

BUSINESS

Meta Go Threads To Compete With Twitter

Meta, the company that owns Facebook and Instagram, is launching a new app called Threads that is set to compete with Twitter for real-time digital conversations. The app will be connected to Instagram, allowing users to follow people they already do on the photo-sharing platform. The app will be released on Thursday, July 6. Threads is Meta’s attempt to capitalize […]

BUSINESS

Meta Violation Of Data Privacy Rules Set To Cost Company $1.3 Billion

Facebook’s parent company, Meta, was ordered to pay out €1.2 billion, or about $1.3 billion, for failing to abide by the European Union’s privacy policies. The fine was imposed by the Irish Data Protection Commission which charged that Meta had violated the terms of General Data Protection Regulations (GDPR), a set of rules for protecting customer privacy in the European […]

BUSINESS

Meta Rolls Out Subscription Service In US

Meta Platforms Inc (META.O) has recently launched its subscription service in the U.S., which would allow Facebook and Instagram users to pay for verification a la Elon Musk-owned Twitter. The Meta Verified service will give users a blue badge after they verify their accounts using a government ID and will cost $11.99 per month on the web or $14.99 a […]

BUSINESS

Facebook Set To Cut 10,000 Jobs

Meta Platforms, Inc., doing business as Meta and formerly named Facebook, Inc., has announced that it will cut 10,000 jobs. The cuts come less than six months after the company disclosed 11,000 layoffs in November as CEO Mark Zuckerberg seeks to make the business more efficient. Meta’s chief executive officer, Mark Zuckerberg, said the cuts would be tough and were […]