Home Views Digital Economy

What's next for Facebook's owner Meta Platforms?

Assif Shameen
Assif Shameen2/10/2022 09:08 PM GMT+08  • 10 min read
What's next for Facebook's owner Meta Platforms?
Meta still has a few years to change course, tweak its strategy and reinforce its old core businesses.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Last June, the social media giant then known as Facebook became only the sixth company in the world — behind iPhone maker Apple Inc, software powerhouse Microsoft, search supremo Google’s owner Alphabet Inc, e-commerce behemoth Amazon.com and Saudi Arabian oil firm Saudi Aramco — to surpass a market value of US$1 trillion ($1.35 trillion). Its market value peaked at US$ 1.1 trillion on Sept 1.

Despite a hard pivot, tens of billions in R&D on a virtual network focused on social connection called metaverse, US$19 billion in stock buybacks, a name change to Meta Platform and an aggressive PR campaign, it has been downhill ever since. On Feb 3, after it guided slower earnings and a plunge in revenue growth, Meta’s shares fell 26.4%, wiping out US$237 billion — the largest ever single-day drop in market value for a listed company on earth. They have fallen over 40% from the peak and the company is now valued at just US$612 billion.

Meta, which last year earned US$117 billion in revenues, is as close to an icon of digital technology as you can get. With Google, it is one of two dominant advertising-based platforms in the world. Amazon, which raked in US$31 billion in ad revenues last year, is a distant third.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now