Trending News

How much is Facebook worth now after rebranding to Meta?

If any company was in need of a rebrand, then it would definitely be Facebook. The social media website has gone through a few scandalous years recently. From meddling in presidential elections to silencing journalists, Mark Zuckerberg’s corporation hasn’t been as popular as it once was. The platform got a major name change Thursday. Facebook will now be referred to as Meta.

Facebook CEO Mark Zuckerberg announced the rebranding at the site’s annual conference. Meta will be the holding company behind Facebook, Instagram, WhatsApp, and the VR brand, Oculus. Zuckerberg explained that the name is inspired by the “metaverse” he hopes to create. However, why is it worth changing the Facebook name?

Zuckerberg believes that the “metaverse” is how the internet will evolve in the future. The Facebook CEO claimed “We believe the metaverse will be the successor of the mobile internet.” The company has invested ten billion dollars in the metaverse project so far this year. This fact leads many investors to wonder how much Facebook is worth now.

Facebook is now Meta

While Facebook is in the midst of a number of public relations issues, Mark Zuckerberg doesn’t seem concerned. Due to the company’s business endeavors, it seems as if the Meta rebrand has been a long time coming. Those wondering how much Facebook is worth may be surprised to know that Oculus is doing very well.

In fact, Facebook announced in earnings reports that its virtual reality branch has shown steady growth. The virtual reality division of the company is now worth so much that it must report its revenue separately. The corporation’s products will now be separately listed as it’s “family of apps” in one column. The other will include their “reality labs.”

The VR & augmented reality experiences offered by Facebook seem to be the basis of the switch to Meta. Mark Zuckerberg described the conceptual idea of the metaverse during an at-home presentation. The CEO emphasized offering users a “sense of presence” with their friends & family despite being separated. Meta will allow people to create their own digital existence.

The metaverse would offer participants the ability to personalize their avatars & virtual space. One could feasibly walk around a virtual room decorated with pictures & videos. Zuckerberg said “When I send my parents a video with my kids, they’re going to feel like they’re right in the moment with us not peering through a little window.” Welcome to the future everyone.

Why Meta?

Facebook seems to view the metaverse as a way to combat the changing post-pandemic world. Zuckerberg says that with Meta “We’ll be able to express ourselves in new joyful, completely immersive ways.” The metaverse will supposedly allow for friends to hang out virtually in each other’s homes. It’ll also make it so coworkers can present without physically being together.

Last year, Facebook debuted two immersive projects in beta. Horizon World allows for users to invite their friends into their virtual existence. Likewise, Horizon Workrooms offers the same experience for businesses & their employees. The Horizon programs seem to be the foundation of the metaverse experience.

How much is Facebook worth now?

After Mark Zuckerberg’s announcement at the annual meeting, Facebook’s worth soared. The company’s stock climbed up over two percent in a few hours & is projected to go much higher. Facebook’s revenue in the quarterly financials is worth around twenty-nine billion dollars. The company’s net profit margin is around thirty-one percent.

Investors are wondering how long the success can last. The post-pandemic economy & market has proved extremely volatile.

Facebook seems to be putting all of its eggs into the virtual reality basket by rebranding to Meta? How much do you think Facebook will be worth after the name change? Let us know in the comments!

Share via:
No Comments

Leave a Comment