Meta, which has given direction to the concept of social media with the name Facebook, has not left any trace of its glorious days in the last period. The importance given to the metaverse project by the CEO of the company, Mark Zuckerberg, caused huge losses in Meta. The company is looking for ways out.
WhatsApp and Messenger will be the company’s new source of money
Zuckerberg’s company, which introduced the world of the metaverse at Facebook Connect 2021 last year, changed its name from Facebook to Meta. The phenomenal businessman has invested a considerable amount in the metaverse universe during this period. However, according to the company’s balance sheet announced at the end of summer, it had seen its lowest level in recent years.
Recently, metaverse investors have also lost their faith in the project. So much so that the company lost about a quarter of its value during the summer period. Unable to find the revenue it hoped for from Metaverse, the company changes its direction. The company’s CEO told his employees a few days ago that WhatsApp and Messenger will drive sales growth in the coming years.
Zuckerberg addressed his employees with the following words;
We talk a lot about long-term deals like Metaverse, but the truth is, business messaging is likely to be the next big pillar of our business. We will work to earn more money from WhatsApp and Messenger.
There was no clear statement on how Meta will monetize the WhatsApp and Messenger platforms. However, important sources state that the company will go to the advertising method. Also, a paid subscription tier can be implemented in WhatsApp.
The Metaverse project has taken a toll on not only Meta but also Zuckerberg. In this process, the wealth of the business person almost melted. The businessman started this year with a personal fortune of $125 billion, losing more than half of his fortune after Meta’s net income fell due to large investments in the Meta database and a decline in users.
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