How Does Meta Make Money?
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. The website, originally located at thefacebook.com, was an immediate hit at Harvard. The "The" was dropped in August 2005 after the company purchased the domain name facebook.com for $200,000, and it became officially incorporated as Facebook, Inc.
Membership was opened to the general public in 2006, and the company went public in a major initial public offering (IPO) in May 2012. Facebook rapidly expanded its social media dominance through key acquisitions, including Instagram in 2012 and WhatsApp in 2014.
Source Fool.com
