Focusing on the concept of Metaverse and changing its name to Meta, Facebook has lost 500 billion dollars in market value with the name change. Meta, the umbrella company of Facebook, which is the sixth largest company in the world with its value, fell to 11th place due to the loss of value.
Company shares continue to lose
Although the company suffered a great loss due to the name change, there are many different reasons for the decrease in income. While Apple’s new features introduced for iOS 14 that allow users to disable targeted ads have a big impact on Meta’s ad revenue, it will soon launch the Privacy Sandbox feature that will block tracking technologies in Google, similar to Apple.
In the latest earnings reports shared, the company’s social media While the number of daily users of the platform Facebook has decreased, there has been a loss of 10.2 billion dollars in the AR and VR division (Reality Labs), which is an important part of Meta’s metaverse plans. In addition to huge losses, Meta, which still has a market value of 561 billion dollars today, seems to continue its investments in line with Zuckerberg’s future plans.
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