Mark Zuckerberg – Rebranding Facebook As Meta
Mark Zuckerberg is an American internet entrepreneur and the founder of Facebook. He studied at Harvard University and founded the social networking website in February 2004. The site initially only worked on a handful of college campuses before it grew to become one of the most popular social networking sites in the world. In 2012, Facebook went public and Zuckerberg became the world’s youngest self-made billionaire. Forbes estimates his net worth at $58.0 billion.
The decision to rebrand Facebook as Meta follows the emergence of a new generation of users who view the company’s core application as unhip. Zuckerberg wants to remain in total control of the company he helped build. This is a bold move, one that could prove a difficult transition. After all, his competitors are already catching up. The new metaverse could make Facebook even more valuable.
In the past decade, Zuckerberg has been relentlessly ambitious and competitive. When the company’s revenues were up, he ran Facebook with an air of urgency. He chased Instagram, bought it for $1 billion despite warnings from his CFO that it would disrupt the Facebook ecosystem. After Facebook’s Instagram deal, it bought WhatsApp for $19 billion. The move fueled a fierce competition among tech companies.