Metaverse Facebook

Meta managed to reel-in $134.9 billion in the year of 2023. On a yearly basis, Meta’s revenue spiked by 16 percent. It is, however, interesting that Meta’s Reality Labs unit has only seen losses since 2021.

On September 28, Mark Zuckerberg appeared for a podcast interview with YouTuber and AI researcher Lex Fridman, but the venue of this interaction was the metaverse. In photorealistic Meta avatars, the two engaged in conversation about how Zuckerberg envisioned the future of virtual reality and the metaverse.

Reality Labs, the creation of Mark Zuckerberg, appears to be suffering some serious difficulties with a large loss of $21 billion in a very brief period of 18 months.

The metaverse could contribute as much as $760 billion (roughly Rs. 62,36,088 crore) or about 2.4 percent to US annual gross domestic product (GDP) by 2035, according to a study commissioned by Facebook owner Meta Platforms.

Facebook-parent Meta Platforms said on Tuesday it would cut 10,000 jobs, just four months after it let go 11,000 employees, the first Big Tech company to announce a second round of mass layoffs. "We expect to reduce our team size by around 10,000 people and to close around 5,000 additional open roles that we haven’t yet hired," Chief Executive Of...

New digital markets like the metaverse and AI will need regulatory scrutiny, EU antitrust chief Margrethe Vestager said on Thursday. The metaverse has come into sharper focus since Facebook changed its name to Meta Platforms two years ago to reflect its bet on the new sector as the successor to the mobile Internet.

WhatsApp Business chat and Messenger will drive Meta's next wave of sales growth, Meta CEO Mark Zuckerberg said on Thursday. The company's Chief Executive is said to have described the WhatsApp and Messenger as being "very early in monetizing" compared to Facebook and Instagram. Zuckerberg was addressing concerns at a company-wide meeting which was...

Meta said on Wednesday it will let go of 13 percent of its workforce, or more than 11,000 employees, in one of the biggest tech layoffs this year as the Facebook parent battles soaring costs and a weak advertising market. The firm said it would pay 16 weeks of base pay plus two additional weeks for every year of service as a part of the severance ...

Facebook parent Meta is said to be planning to begin large-scale layoffs that are expected to affect thousands of employees this week, according to a report. The company had forecasted a weak holiday quarter and said it anticipated significantly more costs next year, amid the company contending with slowing global economic growth, competition from ...

Facebook’s rebranding to Meta completed a year on October 28. Sam Bankman-Fried (SBF), the CEO of the FTX crypto exchange, who is also among the biggest investors in Web3 projects, has argued that this rebranding is not fulfilling Mark Zuckerberg’s plan of churning billions.

Global police agency Interpol said it was preparing for the risk that online immersive environments — the "metaverse" — could create new kinds of cybercrime and allow existing crime to take place on a larger scale. Interpol's member countries have raised concerns about how to prepare for possible metaverse crime, Madan Oberoi, Interpol's execu...

Meta Platforms Inc. shareholders are paying dearly for its spending on the metaverse: The Facebook parent's market value has collapsed by a whopping $520 billion in the past year.

Facebook’s parent company Meta reported that its metaverse division Reality Labs lost $3.7 billion (roughly Rs. 30,476 crore) in the third quarter of this year, bringing its accumulated losses in 2022 to $9.4 billion (roughly Rs. 77,386 crore), according to its third-quarter financial report on Wednesday.

Meta's vision of the metaverse includes people using the company's wearable technology for work, in addition to the company's main metaverse product, a virtual reality playground called Horizon Worlds. The Facebook parent firm is also working with Microsoft to make available virtual versions of the latter's business software, such as Office and Tea...

Meta shareholder Altimter said on Monday that the Facebook parent needs to cut jobs and spending, as the firm has lost investor confidence as it ramped up spending and pivoted to the metaverse. The hedge fund, which has a 0.1 percent stake in the company said that huge investments "in an unknown future is super-sized and terrifying, even by Silicon...

Meta managed to reel-in $134.9 billion in the year of 2023. On a yearly basis, Meta’s revenue spiked by 16 percent. It is, however, interesting that Meta’s Reality Labs unit has only seen losses since 2021.

On September 28, Mark Zuckerberg appeared for a podcast interview with YouTuber and AI researcher Lex Fridman, but the venue of this interaction was the metaverse. In photorealistic Meta avatars, the two engaged in conversation about how Zuckerberg envisioned the future of virtual reality and the metaverse.

Reality Labs, the creation of Mark Zuckerberg, appears to be suffering some serious difficulties with a large loss of $21 billion in a very brief period of 18 months.

The metaverse could contribute as much as $760 billion (roughly Rs. 62,36,088 crore) or about 2.4 percent to US annual gross domestic product (GDP) by 2035, according to a study commissioned by Facebook owner Meta Platforms.

Facebook-parent Meta Platforms said on Tuesday it would cut 10,000 jobs, just four months after it let go 11,000 employees, the first Big Tech company to announce a second round of mass layoffs. "We expect to reduce our team size by around 10,000 people and to close around 5,000 additional open roles that we haven’t yet hired," Chief Executive Of...

New digital markets like the metaverse and AI will need regulatory scrutiny, EU antitrust chief Margrethe Vestager said on Thursday. The metaverse has come into sharper focus since Facebook changed its name to Meta Platforms two years ago to reflect its bet on the new sector as the successor to the mobile Internet.

WhatsApp Business chat and Messenger will drive Meta's next wave of sales growth, Meta CEO Mark Zuckerberg said on Thursday. The company's Chief Executive is said to have described the WhatsApp and Messenger as being "very early in monetizing" compared to Facebook and Instagram. Zuckerberg was addressing concerns at a company-wide meeting which was...

Meta said on Wednesday it will let go of 13 percent of its workforce, or more than 11,000 employees, in one of the biggest tech layoffs this year as the Facebook parent battles soaring costs and a weak advertising market. The firm said it would pay 16 weeks of base pay plus two additional weeks for every year of service as a part of the severance ...

Facebook parent Meta is said to be planning to begin large-scale layoffs that are expected to affect thousands of employees this week, according to a report. The company had forecasted a weak holiday quarter and said it anticipated significantly more costs next year, amid the company contending with slowing global economic growth, competition from ...

Facebook’s rebranding to Meta completed a year on October 28. Sam Bankman-Fried (SBF), the CEO of the FTX crypto exchange, who is also among the biggest investors in Web3 projects, has argued that this rebranding is not fulfilling Mark Zuckerberg’s plan of churning billions.

Global police agency Interpol said it was preparing for the risk that online immersive environments — the "metaverse" — could create new kinds of cybercrime and allow existing crime to take place on a larger scale. Interpol's member countries have raised concerns about how to prepare for possible metaverse crime, Madan Oberoi, Interpol's execu...

Meta Platforms Inc. shareholders are paying dearly for its spending on the metaverse: The Facebook parent's market value has collapsed by a whopping $520 billion in the past year.

Facebook’s parent company Meta reported that its metaverse division Reality Labs lost $3.7 billion (roughly Rs. 30,476 crore) in the third quarter of this year, bringing its accumulated losses in 2022 to $9.4 billion (roughly Rs. 77,386 crore), according to its third-quarter financial report on Wednesday.

Meta's vision of the metaverse includes people using the company's wearable technology for work, in addition to the company's main metaverse product, a virtual reality playground called Horizon Worlds. The Facebook parent firm is also working with Microsoft to make available virtual versions of the latter's business software, such as Office and Tea...

Meta shareholder Altimter said on Monday that the Facebook parent needs to cut jobs and spending, as the firm has lost investor confidence as it ramped up spending and pivoted to the metaverse. The hedge fund, which has a 0.1 percent stake in the company said that huge investments "in an unknown future is super-sized and terrifying, even by Silicon...