After 17 years, billionaire entrepreneur Mark Zuckerberg changed the name of his money-spinning social media company Facebook to Meta.
This, Mark explained, was to reflect the company's vision and what it stands for. However, it is not the first or second time he'd be changing its name and interestingly, there are other companies Meta owns.
In this article, Legit.ng highlights 5 companies Mark Zuckerberg's Meta acquired that are big on the market. It is noteworthy that Meta owns over 10 companies.
Beluga, a messaging service, would probably have rivalled Meta's messenger if it hadn't been acquired.
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The service was acquired by Meta on March 2, 2011, for an undisclosed fee. This is a year after it was founded.
Beluga was at that time undergoing a fundraising process for an undisclosed sum. It would go on to be one of Meta's successful acquisitions.
Investopedia estimates that Onavo's acquisition cost is in the region of $100–200 million.
The Israeli-owned mobile web analytics company was founded in 2010 and was acquired by Mark's Meta in October 2013,
The platform would later be pulled down from iOS and Android app stores after it faced harsh criticism as many classified it as spyware.
3. Oculus VR
Acquired on March 25, 2014, Oculus VR is a virtual reality hardware and software company Meta bought after WhatsApp.
Its acquisition fee was pegged at $2.0 billion. Since its purchase, Oculus VR has witnessed a quick presence in the virtual reality market.
This has got to be one of Meta's biggest acquisitions. WhatsApp was acquired on February 19, 2014, for a whopping sum of $19.0 billion.
The mobile messaging platform which was founded in 2009 is a low-cost alternative to standard text messaging services.
It is believed that WhatsApp would have been Meta's biggest rival had it not been acquired.
The photo and video sharing app, Instagram is another big acquisition by Meta. Instagram was acquired for $1.0 billion on April 9, 2012.
In order to build and grow the platform independently, Instagram is run separately from Meta.
Some experts estimate that Instagram generates more revenue.
Mark Zuckerberg announces $1 billion reward for Facebook and Instagram content creators
Meanwhile, Legit.ng previously reported that Mark Zuckerberg had announced a $1 billion reward for Facebook and Instagram content creators.
Zuckerberg made the announcement in a brief statement posted on his verified Facebook page on Wednesday, July 14.
The statement reads:
"We want to build the best platforms for millions of creators to make a living, so we're creating new programs to invest over $1 billion to reward creators for great content they create on Facebook and Instagram through 2022.
"Investing in creators isn't new for us, but I'm excited to expand this work over time. More details soon."