The parent company of Facebook, Meta Platforms (NASDAQ:META), saw its shares increase by 1.6% in pre-market trading on Friday, a day after announcing a fundamental change in how users show themselves on the social-networking site. Meta (META) said on Thursday that Facebook users will be able to have up to five separate accounts under their account. According to the firm, the change would give users more control over their Facebook experiences, including the ability to target specific audiences such as friends, family, and business contacts.
Each user will continue to be limited to a single Facebook account, with their primary profile continuing to use their real name. After logging into that account, users will have access to any other profiles they’ve created. The upgrade allows users to semi-anonymize their identities on the largest social network in the world, similar to features offered by competitors such as TikTok and Twitter, as well as Meta’s photo and video service Instagram.
Meta stated in a statement that its policies against impersonation and other sorts of fraudulent identity representations would continue to apply to all profiles. A spokesman for Meta stated that the company was testing the new strategy in select nations, but refused to reveal which ones.
Meta (META) is set to release its second-quarter report on July 27, following the close of the market. According to some experts, the company’s performance will be highly dependent on consumer demand and engagement levels.
About Meta
Meta Platforms, Inc., doing business as Meta (NASDAQ: META) and formerly known as Facebook, Inc. and TheFacebook, Inc., is a Menlo Park, California-based American global technological company. Facebook, Instagram, and WhatsApp are among the products and services owned by the firm.
Meta is one of the most valuable corporations in the world. Along with Alphabet, Amazon, Apple, and Microsoft, it is considered one of the Big Five American information technology firms. Facebook, Messenger, Facebook Watch, and the Facebook Portal are Meta goods and services. In addition, it has bought Oculus, Giphy, Mapillary, Customer, and Presize [18] and holds a 9.99% share in Jio Platforms. In 2021, 97.5 percent of the company’s revenue was earned by the sale of advertisement spaces to advertisers.
Facebook’s parent business changed its name from Facebook, Inc. to Meta in October 2021 to “reflect its focus on establishing the metaverse.” According to Meta, the “metaverse” is the environment in which all of the company’s products and services are interconnected.
Featured Image: Megapixl @Kianlin
