Meta Platforms, Inc., doing business as Meta and formerly known as Facebook, Inc., and TheFacebook, Inc., is an American multinational technology conglomerate based in Menlo Park, California. The company is the parent organization of Facebook, Instagram, and WhatsApp, among other subsidiaries. Meta is one of the world's most valuable companies. It is considered one of the Big Five American information technology companies, alongside Google, Amazon, Apple, and Microsoft. Meta products and services include Facebook, Messenger, Facebook Watch, and Facebook Portal. It has also acquired Oculus, Giphy, Mapillary, Kustomer, Presize and has a 9.99% stake in Jio Platforms. In 2021, the company generated 97.5% of its revenue from the sale of advertisement placements to marketers.In October 2021, media outlets reported that the parent company of Facebook planned to change its name to "reflect its focus on building [what it refers to as] the metaverse". According to Meta, the "metaverse" refers to the integrated environment that links all of the company's products and services. It was rebranded as Meta later that month on October 28.