Meta's mission is to empower people to create communities and foster global connectivity. They are focused on building the metaverse and offer a range of products to facilitate connections, community-building, and business growth. These products are accessible via mobile devices, computers, virtual reality headsets, and wearables.
Meta operates under two segments: Family of Apps (FoA) and Reality Labs (RL). FoA generates revenue primarily through advertising placements on platforms like Facebook, Instagram, and Messenger. RL concentrates on metaverse development and includes consumer hardware, software, and content sales. Currently, RL offers products like Meta Quest virtual reality devices and augmented reality experiences, such as Horizon Worlds and Ray-Ban Stories smart glasses.
Their Family of Apps includes Facebook, Instagram, Messenger, and WhatsApp, each serving as a platform for social interaction, community building, and economic opportunities.
Source: Company 10K