The Contribution of Family Apps to Meta Platforms – Meta Platforms, Inc is one of the World’s largest technology companies. This company has some popular social media and application in this world. Historically, meta platforms, Inc was founded by Mark Zuckerberg, Eduardo Saverin, Andrew McCollum, Dustin Moskovitz, and Chris Hughes on January 4th, 2004. They built the social media platform, namely Facebook, and gained success that has huge millions of users in this world.
In 2012, Facebook inc (the company’s name before meta platforms), bought Instagram, the popular photo-sharing application, for about $1 billion in cash and stock in 2012. Furthermore, in 2014, Facebook also bought the WhatsApp with value of $19 billion. With these two biggest strategic acquisitions, Meta Platform has become the biggest or king in social media industries. To Date, Maybe, some of us know and used the platforms (Instagram, Facebook, and WhatsApp) to share or advertise the products.
Financially, until 2022, based on annual report, the Meta Platform has assets around $ 185 billion with liabilities around $ 60 billion. Based on the business performance in 2022, in income statements, Meta Platforms gained revenue around $ 116 billion with net income around 23.2 billion US Dollars.
Some of the Family of Apps (FoA) of Meta Platforms, based on Meta Platform Annual Report, 2021:
Facebook is the foundation of Meta Platform. It was the first successful platform that developed by Mark Zuckerberg and his friends. Functionally, facebook helps people build community and bring the world closer through online relationship. In Facebook, people can share life’s moments and discuss what’s happening, nurture and build relationships, discover, and connect to interests, and create economic opportunity. Along with development of Facebook Platforms, some of the feature in Facebook are Feed, Reels, Stories, Groups, and more.
Instagram platform can help people closer to the people and things they love. Functionally, many features can be founded in this platform. Some of them are Instagram Feed, Stories, Reels, Video, Live, Shops, and messaging. Commonly, this are places where people and creators can connect and express themselves through photos, video, and private messaging, and discover and shop from their favorite businesses.
Messenger is a simple messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio and video calls.
WhatsApp is a messaging application that is commonly used by people and businesses around the world to communicate and transact in a private way. Many people today use WhatsApp to send the message. This WhatsApp basically can substitute the popular short message service (SMS) and change the culture of communicate via smartphones. Maybe most of smartphone in this world has installed WhatsApp application because of the urgency of the platforms to communicate with others.
Financially, the family of apps (FoA) application (Facebook, Messenger, WhatsApp, and Instagram) can generate revenue to Meta Platforms around $ 114,450 million in 2020, $115,655 million in 2021, $ 114,450 million in 2022. The application of Facebook, Instagram, WhatsApp, and Messenger generate money from selling advertising placements. With these conditions, basically, Family of Apps still become the backbone of the company in gaining the revenue with contribution more than 90% to total revenue of Meta Platforms. Meanwhile, Reality Labs application still contributes insignificantly.
The Reference of The Contribution of Family Apps to Meta Platforms
Meta Platforms. 2022. Annual Report 2021. Accessed via https://investor.fb.com/financials/default.aspx on April 10th, 2023.