A funny thing happened on the way to Meta\u2019s Q2 earnings call. As it has for many tech companies during this earnings season, discussion of actual financial results took a back seat to discussions about spending on artificial intelligence (AI). With this in mind, Meta and Zuckerberg did not disappoint.
\nYes, there were financial results to be had. And they were stellar. Despite concern that digital and social media advertising might have fallen on hard times during the quarter, Meta reported earnings per share (EPS) of $5.16 on revenue of $39.07 billion. Meta recorded EPS of $2.98 on revenue of $31.9 billion during the same period last year.
\nThe company\u2019s Family of Apps revenue, which includes revenue from Facebook, Instagram, WhatsApp and Messenger, came in at $38.72 billion, higher than estimates of $37.7 billion and much higher than the revenue of $31.7 billion in Q2 2023.
\nWhile those results led off the call, Zuckerberg wasted no time detailing his vision for how AI will play in the Meta ecosystem and, perhaps more importantly, how it will make money in that ecosystem. He separated his comments into three areas: How AI will play in existing products, how it will succeed as an open-source system, and how it will help Meta continue to develop the metaverse.
\nFirst, Zuckerberg highlighted AI\u2019s role in enhancing content recommendations and advertising capabilities. He described a vision for a \u201csingle unified recommendation system\u201d powering all content across Meta\u2019s services. On the advertising front, Zuckerberg predicted that AI would eventually generate personalized ad creative, allowing advertisers to simply specify business objectives and budgets, with Meta\u2019s AI handling the rest.
\n\u201cAdvertisers will basically just be able to tell us a business objective and a budget, and we\u2019re going to go do the rest for them,\u201d he said. \u201cWe\u2019re going to get there incrementally over time, but I think this is going to be a very big deal.\u201d
\nZuckerberg also underscored the importance of Meta\u2019s open-source AI model, Llama 3.1, positioning it as an \u201cinflection point\u201d for the industry. He argued that open-source AI will become the industry standard, similar to Linux in operating systems. The CEO emphasized the benefits of open-source AI for developers, Meta itself, and society at large, citing improved safety, faster innovation, and shared prosperity.
\nZuckerberg also revealed plans for Llama 4, aiming to be \u201cthe most advanced in the industry next year,\u201d with compute requirements nearly 10 times that of Llama 3.
\nFinally, Zuckerberg discussed how AI is shaping Meta\u2019s metaverse ambitions. He noted that AI advancements have accelerated timelines for some products, particularly highlighting the success of Ray-Ban Meta smart glasses and the Quest 3 VR headset. Zuckerberg sees AI as integral to the future of these devices, with plans to incorporate more AI capabilities into future generations of smart glasses and VR headsets. He teased further announcements related to AI and metaverse developments at Meta\u2019s upcoming Connect conference on Sept. 25.
\nAnd how much will all that cost? Zuckerberg left that issue for CFO Susan Li.
\n\u201cWhile we do not intend to provide any quantitative guidance for 2025 until the fourth quarter call, we expect infrastructure costs will be a significant driver of expense growth next year as we recognize depreciation and operating costs associated with our expanded infrastructure footprint,\u201d Li said.
\nThe post Zuckerberg Details AI Vision in Meta\u2019s Q2 Earnings Call appeared first on PYMNTS.com.
\n", "content_text": "A funny thing happened on the way to Meta\u2019s Q2 earnings call. As it has for many tech companies during this earnings season, discussion of actual financial results took a back seat to discussions about spending on artificial intelligence (AI). With this in mind, Meta and Zuckerberg did not disappoint. \nYes, there were financial results to be had. And they were stellar. Despite concern that digital and social media advertising might have fallen on hard times during the quarter, Meta reported earnings per share (EPS) of $5.16 on revenue of $39.07 billion. Meta recorded EPS of $2.98 on revenue of $31.9 billion during the same period last year.\nThe company\u2019s Family of Apps revenue, which includes revenue from Facebook, Instagram, WhatsApp and Messenger, came in at $38.72 billion, higher than estimates of $37.7 billion and much higher than the revenue of $31.7 billion in Q2 2023.\nWhile those results led off the call, Zuckerberg wasted no time detailing his vision for how AI will play in the Meta ecosystem and, perhaps more importantly, how it will make money in that ecosystem. He separated his comments into three areas: How AI will play in existing products, how it will succeed as an open-source system, and how it will help Meta continue to develop the metaverse. \nFirst, Zuckerberg highlighted AI\u2019s role in enhancing content recommendations and advertising capabilities. He described a vision for a \u201csingle unified recommendation system\u201d powering all content across Meta\u2019s services. On the advertising front, Zuckerberg predicted that AI would eventually generate personalized ad creative, allowing advertisers to simply specify business objectives and budgets, with Meta\u2019s AI handling the rest.\n\u201cAdvertisers will basically just be able to tell us a business objective and a budget, and we\u2019re going to go do the rest for them,\u201d he said. \u201cWe\u2019re going to get there incrementally over time, but I think this is going to be a very big deal.\u201d\nZuckerberg also underscored the importance of Meta\u2019s open-source AI model, Llama 3.1, positioning it as an \u201cinflection point\u201d for the industry. He argued that open-source AI will become the industry standard, similar to Linux in operating systems. The CEO emphasized the benefits of open-source AI for developers, Meta itself, and society at large, citing improved safety, faster innovation, and shared prosperity. \nZuckerberg also revealed plans for Llama 4, aiming to be \u201cthe most advanced in the industry next year,\u201d with compute requirements nearly 10 times that of Llama 3.\nFinally, Zuckerberg discussed how AI is shaping Meta\u2019s metaverse ambitions. He noted that AI advancements have accelerated timelines for some products, particularly highlighting the success of Ray-Ban Meta smart glasses and the Quest 3 VR headset. Zuckerberg sees AI as integral to the future of these devices, with plans to incorporate more AI capabilities into future generations of smart glasses and VR headsets. He teased further announcements related to AI and metaverse developments at Meta\u2019s upcoming Connect conference on Sept. 25.\nAnd how much will all that cost? Zuckerberg left that issue for CFO Susan Li. \n\u201cWhile we do not intend to provide any quantitative guidance for 2025 until the fourth quarter call, we expect infrastructure costs will be a significant driver of expense growth next year as we recognize depreciation and operating costs associated with our expanded infrastructure footprint,\u201d Li said. \nThe post Zuckerberg Details AI Vision in Meta\u2019s Q2 Earnings Call appeared first on PYMNTS.com.", "date_published": "2024-07-31T21:04:39-04:00", "date_modified": "2024-07-31T21:04:39-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/07/Meta-earnings-AI.jpg", "tags": [ "AI", "artificial intelligence", "Earnings", "Featured News", "GenAI", "generative AI", "LLAMA", "mark zuckerberg", "Meta", "News", "PYMNTS News", "Susan Li" ] }, { "id": "https://www.pymnts.com/?p=2014319", "url": "https://www.pymnts.com/meta/2024/meta-expands-business-subscription-program-to-india/", "title": "Meta Expands Business Subscription Program to India", "content_html": "Meta\u00a0said it is expanding its business subscription program to users in India.
\nThe tech giant last year\u00a0introduced Meta Verified\u00a0for businesses on Facebook and Instagram, and recently began offering subscriptions for businesses on WhatsApp.
\n\u201cThe\u00a0expanded Meta Verified\u00a0business offering on Facebook and Instagram includes the verified badge along with enhanced account support, impersonation protection, and additional features to support discovery and connection,\u201d Meta said in a blog post Monday (July 22).
\n\u201cTogether these features give businesses an opportunity to drive growth and support a wider variety of business needs and activities on our apps.\u201d
\nAccording to the blog post, the company has enhanced its offerings for the program based on feedback from businesses and market research. Business owners say they want to be verified as it lends them credibility and makes customers more confident to patronize them.
\n\u201cIn fact, the verified badge continues to be one of the top reported reasons for subscribing to Meta Verified,\u201d the company said.
\nAs PYMNTS wrote earlier this month, \u201csocial media apps are becoming more and more involved in retail, with younger generations disproportionately\u00a0engaging with social commerce.\u201d
\nResearch from last year\u2019s PYMNTS Intelligence report, \u201cTracking the Digital Payments Takeover: Monetizing Social Media,\u201d shows that 43% of consumers browse social media to find goods and services, while 14% ultimately purchase those goods and services. Those shares climb to 68% and 22%, respectively, for Gen Z and to 64% and 22% for millennials.
\nIn addition, a recent PYMNTS Intelligence special report,\u00a0\u201cGeneration Zillennial: How They Shop,\u201d\u00a0found that 28% of Gen Z consumers had made a retail purchase in the prior 30 days at least partially because of a social media influencer or celebrity, while 39% had done so at least in part because of an ad they’d seen on social media.
\nMeanwhile, PYMNTS wrote last week about\u00a0Meta\u2019s decision\u00a0to withhold its latest multimodal artificial intelligence (AI) model from the European Union, a move that stems from uncertainties surrounding compliance with the General Data Protection Regulation (GDPR), especially when it comes to AI model training employing user data from Facebook and Instagram.
\n\u201cUnder GDPR, an individual essentially has the right to challenge any automated decision. But as AI has grown exponentially, human knowledge and understanding has not kept pace,\u201d\u00a0David McInerney, commercial manager at\u00a0Cassie, a consent and preference management platform, told PYMNTS.
\nA key issue facing companies such Meta is whether they can explain AI decision-making processes, that report added.
\n\u201cBusinesses can say they trained their AI, and it made an automated decision. But if companies aren\u2019t able to properly explain how that decision was made, they cannot fulfill their legal obligation in the GDPR,\u201d McInerney said.
\nThe post Meta Expands Business Subscription Program to India appeared first on PYMNTS.com.
\n", "content_text": "Meta\u00a0said it is expanding its business subscription program to users in India.\nThe tech giant last year\u00a0introduced Meta Verified\u00a0for businesses on Facebook and Instagram, and recently began offering subscriptions for businesses on WhatsApp.\n\u201cThe\u00a0expanded Meta Verified\u00a0business offering on Facebook and Instagram includes the verified badge along with enhanced account support, impersonation protection, and additional features to support discovery and connection,\u201d Meta said in a blog post Monday (July 22).\n\u201cTogether these features give businesses an opportunity to drive growth and support a wider variety of business needs and activities on our apps.\u201d\nAccording to the blog post, the company has enhanced its offerings for the program based on feedback from businesses and market research. Business owners say they want to be verified as it lends them credibility and makes customers more confident to patronize them.\n\u201cIn fact, the verified badge continues to be one of the top reported reasons for subscribing to Meta Verified,\u201d the company said.\nAs PYMNTS wrote earlier this month, \u201csocial media apps are becoming more and more involved in retail, with younger generations disproportionately\u00a0engaging with social commerce.\u201d\nResearch from last year\u2019s PYMNTS Intelligence report, \u201cTracking the Digital Payments Takeover: Monetizing Social Media,\u201d shows that 43% of consumers browse social media to find goods and services, while 14% ultimately purchase those goods and services. Those shares climb to 68% and 22%, respectively, for Gen Z and to 64% and 22% for millennials.\nIn addition, a recent PYMNTS Intelligence special report,\u00a0\u201cGeneration Zillennial: How They Shop,\u201d\u00a0found that 28% of Gen Z consumers had made a retail purchase in the prior 30 days at least partially because of a social media influencer or celebrity, while 39% had done so at least in part because of an ad they’d seen on social media.\nMeanwhile, PYMNTS wrote last week about\u00a0Meta\u2019s decision\u00a0to withhold its latest multimodal artificial intelligence (AI) model from the European Union, a move that stems from uncertainties surrounding compliance with the General Data Protection Regulation (GDPR), especially when it comes to AI model training employing user data from Facebook and Instagram.\n\u201cUnder GDPR, an individual essentially has the right to challenge any automated decision. But as AI has grown exponentially, human knowledge and understanding has not kept pace,\u201d\u00a0David McInerney, commercial manager at\u00a0Cassie, a consent and preference management platform, told PYMNTS.\nA key issue facing companies such Meta is whether they can explain AI decision-making processes, that report added.\n\u201cBusinesses can say they trained their AI, and it made an automated decision. But if companies aren\u2019t able to properly explain how that decision was made, they cannot fulfill their legal obligation in the GDPR,\u201d McInerney said.\nThe post Meta Expands Business Subscription Program to India appeared first on PYMNTS.com.", "date_published": "2024-07-22T10:46:14-04:00", "date_modified": "2024-07-22T22:25:16-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2023/09/Meta-Verified.jpg", "tags": [ "B2B", "B2B Payments", "commercial payments", "Facebook", "india", "Instagram", "Meta", "Meta India", "Meta Verified", "News", "PYMNTS News", "social commerce", "Social Media", "What's Hot", "What's Hot In B2B", "WhatsApp" ] }, { "id": "https://www.pymnts.com/?p=2013949", "url": "https://www.pymnts.com/meta/2024/nigerian-regulator-fines-meta-220-million-alleging-privacy-law-violations/", "title": "Nigerian Regulator Fines Meta $220 Million, Alleging Privacy Law Violations\u00a0", "content_html": "A Nigerian regulator has fined Meta $220 million, saying the privacy policy of the company\u2019s WhatsApp violated the country\u2019s data and privacy laws.
\nThe Federal Competition and Consumer Protection Commission (FCCPC) said in a Friday (July 19) press release that the company violated the Federal Competition and Consumer Protection Act (FCCPA) 2018, the Nigeria Data Protection Regulation 2019 (NDPR) and other relevant laws.
\nThe FCCPC said in the release that the violations include \u201cabusive and invasive practices against data subjects/consumers in Nigeria, such as appropriating personal data or information without consent, discriminatory practices against Nigerian data subjects/consumers or disparate treatment of consumers/data subjects compared with other jurisdictions with similar regulatory frameworks, abuse of dominant market position by forcing unscrupulous, exploitative and non-compliant privacy policies which appropriated consumer personal information without the option or opportunity to self-determine or otherwise withhold or provide consent to the gathering, use and/or sharing of such personal data.\u201d
\nResponding to the announcement of the fine, a WhatsApp spokesperson provided Bloomberg with a statement saying: \u201cIn 2021 we went to users globally to explain how talking to businesses among other things would work and while there was a lot of confusion then, it\u2019s actually proven quite popular. We disagree with the decision today as well as the fine and we are appealing the decision.\u201d
\nThis announcement comes a day after Meta told Reuters that it will suspend its generative artificial intelligence (AI) tools in Brazil after one of the country\u2019s regulators objected to part of the company\u2019s privacy policy.
\nEarlier in July, Brazil\u2019s National Data Protection Authority suspended the validity of Meta\u2019s new privacy policy, saying the company would have to exclude the section about the processing of personal data for generative AI training.
\nAbout a month before that, on June 10, Meta said in an update to an earlier blog post that it paused its planned launch of its AI assistant, Meta AI, in Europe after the Irish Data Protection Commission, on behalf of the European data protection authorities, asked it to delay training its large language models using content shared by adults on Meta\u2019s Facebook and Instagram platforms.
\nThe post Nigerian Regulator Fines Meta $220 Million, Alleging Privacy Law Violations\u00a0 appeared first on PYMNTS.com.
\n", "content_text": "A Nigerian regulator has fined Meta $220 million, saying the privacy policy of the company\u2019s WhatsApp violated the country\u2019s data and privacy laws.\nThe Federal Competition and Consumer Protection Commission (FCCPC) said in a Friday (July 19) press release that the company violated the Federal Competition and Consumer Protection Act (FCCPA) 2018, the Nigeria Data Protection Regulation 2019 (NDPR) and other relevant laws.\nThe FCCPC said in the release that the violations include \u201cabusive and invasive practices against data subjects/consumers in Nigeria, such as appropriating personal data or information without consent, discriminatory practices against Nigerian data subjects/consumers or disparate treatment of consumers/data subjects compared with other jurisdictions with similar regulatory frameworks, abuse of dominant market position by forcing unscrupulous, exploitative and non-compliant privacy policies which appropriated consumer personal information without the option or opportunity to self-determine or otherwise withhold or provide consent to the gathering, use and/or sharing of such personal data.\u201d\nResponding to the announcement of the fine, a WhatsApp spokesperson provided Bloomberg with a statement saying: \u201cIn 2021 we went to users globally to explain how talking to businesses among other things would work and while there was a lot of confusion then, it\u2019s actually proven quite popular. We disagree with the decision today as well as the fine and we are appealing the decision.\u201d\nThis announcement comes a day after Meta told Reuters that it will suspend its generative artificial intelligence (AI) tools in Brazil after one of the country\u2019s regulators objected to part of the company\u2019s privacy policy.\nEarlier in July, Brazil\u2019s National Data Protection Authority suspended the validity of Meta\u2019s new privacy policy, saying the company would have to exclude the section about the processing of personal data for generative AI training.\nAbout a month before that, on June 10, Meta said in an update to an earlier blog post that it paused its planned launch of its AI assistant, Meta AI, in Europe after the Irish Data Protection Commission, on behalf of the European data protection authorities, asked it to delay training its large language models using content shared by adults on Meta\u2019s Facebook and Instagram platforms.\nThe post Nigerian Regulator Fines Meta $220 Million, Alleging Privacy Law Violations\u00a0 appeared first on PYMNTS.com.", "date_published": "2024-07-19T20:55:14-04:00", "date_modified": "2024-07-19T20:55:14-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/07/Nigeria-legal-Meta-Whatsapp-fines.jpg", "tags": [ "EMEA", "Federal Competition and Consumer Protection Commission", "fines", "international", "legal", "Meta", "News", "Nigeria", "privacy", "Privacy Violation", "PYMNTS News", "What's Hot", "WhatsApp" ] }, { "id": "https://www.pymnts.com/?p=1971273", "url": "https://www.pymnts.com/meta/2024/threads-gains-175-million-users-in-first-year/", "title": "Threads Gains 175 Million Users in First Year", "content_html": "About a year after its launch, Threads has topped 175 million monthly active users.
\n\u201cThreads now has more than 175M monthly actives. What a year,\u201d Meta Founder, Chairman and CEO Mark Zuckerberg said in a Wednesday (July 3) post on the text-based social media platform.
\nBuilt by Meta\u2019s Instagram team, Threads was launched on July 5, 2023, in more than 100 countries. The company said at the time that the app offers a space to share posts that are up to 500 characters long and include links, photos and videos up to five minutes long.
\n\u201cOur vision with Threads is to take what Instagram does best and expand that to text, creating a positive and creative space to express your ideas,\u201d Meta said in a press release announcing the launch. \u201cJust like on Instagram, with Threads you can follow and connect with friends and creators who share your interests \u2014 including the people you follow on Instagram and beyond.\u201d
\nAfter the app garnered 10 million sign-ups in the first seven hours after its debut, Zuckerberg said he envisioned a much higher number that would surpass the 300 million-plus users Twitter (now X) had at the time.
\n\u201cThere should be a public conversations app with 1 billion-plus people on it,\u201d he said. \u201cTwitter has had the opportunity to do this but hasn\u2019t nailed it. Hopefully we will.\u201d
\nIn April, Zuckerberg said during Meta\u2019s quarterly earnings call that Threads had more than 150 million monthly active users and was \u201cgrowing well.\u201d
\n\u201cThere are now more than 150 million monthly actives, and it continues to generally be on the trajectory I hoped to see,\u201d Zuckerberg said.
\n\u201cMy daughters would want me to mention that Taylor Swift is now on Threads \u2014 that was a big deal in my house,\u201d he added.
\nMeta Chief Financial Officer Susan Li said later in the call that Threads \u201ccontinues to see good traction as we continue to ship valuable features and scale the community.\u201d
\nIn May, Threads began testing a \u201cpinned columns\u201d feature on its web application that allows users to pin as many as 100 feeds to their home page so that they can easily jump to those from people they follow, those recommended by the Threads algorithm, or those based on keywords or topics they have specified.
\nThe post Threads Gains 175 Million Users in First Year appeared first on PYMNTS.com.
\n", "content_text": "About a year after its launch, Threads has topped 175 million monthly active users.\n\u201cThreads now has more than 175M monthly actives. What a year,\u201d Meta Founder, Chairman and CEO Mark Zuckerberg said in a Wednesday (July 3) post on the text-based social media platform.\nBuilt by Meta\u2019s Instagram team, Threads was launched on July 5, 2023, in more than 100 countries. The company said at the time that the app offers a space to share posts that are up to 500 characters long and include links, photos and videos up to five minutes long.\n\u201cOur vision with Threads is to take what Instagram does best and expand that to text, creating a positive and creative space to express your ideas,\u201d Meta said in a press release announcing the launch. \u201cJust like on Instagram, with Threads you can follow and connect with friends and creators who share your interests \u2014 including the people you follow on Instagram and beyond.\u201d\nAfter the app garnered 10 million sign-ups in the first seven hours after its debut, Zuckerberg said he envisioned a much higher number that would surpass the 300 million-plus users Twitter (now X) had at the time.\n\u201cThere should be a public conversations app with 1 billion-plus people on it,\u201d he said. \u201cTwitter has had the opportunity to do this but hasn\u2019t nailed it. Hopefully we will.\u201d\nIn April, Zuckerberg said during Meta\u2019s quarterly earnings call that Threads had more than 150 million monthly active users and was \u201cgrowing well.\u201d\n\u201cThere are now more than 150 million monthly actives, and it continues to generally be on the trajectory I hoped to see,\u201d Zuckerberg said.\n\u201cMy daughters would want me to mention that Taylor Swift is now on Threads \u2014 that was a big deal in my house,\u201d he added.\nMeta Chief Financial Officer Susan Li said later in the call that Threads \u201ccontinues to see good traction as we continue to ship valuable features and scale the community.\u201d\nIn May, Threads began testing a \u201cpinned columns\u201d feature on its web application that allows users to pin as many as 100 feeds to their home page so that they can easily jump to those from people they follow, those recommended by the Threads algorithm, or those based on keywords or topics they have specified.\nThe post Threads Gains 175 Million Users in First Year appeared first on PYMNTS.com.", "date_published": "2024-07-03T17:51:29-04:00", "date_modified": "2024-07-03T17:51:29-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/07/Threads-users.jpg", "tags": [ "Instagram", "mark zuckerberg", "Meta", "News", "PYMNTS News", "Social Media", "Susan Li", "Threads", "twitter", "What's Hot", "X" ] }, { "id": "https://www.pymnts.com/?p=1959801", "url": "https://www.pymnts.com/meta/2024/report-meta-to-reduce-vp-positions-from-300-to-250/", "title": "Report: Meta to Reduce VP Positions From 300 to 250", "content_html": "Meta Platforms is reportedly continuing its headcount reductions by looking to cut down on the number of vice president positions.
\nThe company aims to reduce the number of vice president positions from the 300 it had last year to about 250, Seeking Alpha reported Wednesday (June 12).
\nMeta did not immediately reply to PYMNTS\u2019 request for comment.
\nThis news comes after thousands of job cuts were announced by Meta over the past two years.
\nIn March 2023, the company said it planned to lay off another 10,000 employees after cutting 11,000 jobs in November 2022. The company also said at the time that it would freeze hiring for another 5,000 roles that had been open.
\nThe 11,000 layoffs announced in November 2022 accounted for 13% of Meta\u2019s workforce at the time and were the first wide-ranging layoffs in its history. Meta CEO Mark Zuckerberg said when announcing those cuts that the move was driven by online returning to prior trends after having increased during the pandemic.
\nThe following round of layoffs announced in March 2023 were part of a restructuring plan that aimed to flatten the company\u2019s organizations, cancel lower priority projects, slow hiring rates and reduce the size of the recruiting team.
\nWhen announcing that round of job cuts, Zuckerberg said Meta\u2019s moves would be guided by some principles focused on making it \u201can even stronger technology company.\u201d
\nThose principles include removing multiple layers of management and giving managers as many as 10 direct reports, canceling projects that are duplicative or of lower value, making every organization leaner, building an optimal ratio of engineers to other roles, investing in artificial intelligence (AI) and other tools and studying the effectiveness of a distributed workforce.
\nIn the company\u2019s most recent earnings report, Meta said its capital expenditures on AI and the metaverse-development division Reality Labs will range between $35 billion and $40 billion by the end of 2024.
\nThat total was $5 billion more than it initially forecasted for developing new AI products for consumers, developers, businesses and hardware manufacturers.
\nIn May, Zuckerberg formed a product advisory council to provide guidance on the company\u2019s AI and technology efforts.
\nThe post Report: Meta to Reduce VP Positions From 300 to 250 appeared first on PYMNTS.com.
\n", "content_text": "Meta Platforms is reportedly continuing its headcount reductions by looking to cut down on the number of vice president positions.\nThe company aims to reduce the number of vice president positions from the 300 it had last year to about 250, Seeking Alpha reported Wednesday (June 12).\nMeta did not immediately reply to PYMNTS\u2019 request for comment.\nThis news comes after thousands of job cuts were announced by Meta over the past two years.\nIn March 2023, the company said it planned to lay off another 10,000 employees after cutting 11,000 jobs in November 2022. The company also said at the time that it would freeze hiring for another 5,000 roles that had been open.\nThe 11,000 layoffs announced in November 2022 accounted for 13% of Meta\u2019s workforce at the time and were the first wide-ranging layoffs in its history. Meta CEO Mark Zuckerberg said when announcing those cuts that the move was driven by online returning to prior trends after having increased during the pandemic.\nThe following round of layoffs announced in March 2023 were part of a restructuring plan that aimed to flatten the company\u2019s organizations, cancel lower priority projects, slow hiring rates and reduce the size of the recruiting team.\nWhen announcing that round of job cuts, Zuckerberg said Meta\u2019s moves would be guided by some principles focused on making it \u201can even stronger technology company.\u201d\nThose principles include removing multiple layers of management and giving managers as many as 10 direct reports, canceling projects that are duplicative or of lower value, making every organization leaner, building an optimal ratio of engineers to other roles, investing in artificial intelligence (AI) and other tools and studying the effectiveness of a distributed workforce.\nIn the company\u2019s most recent earnings report, Meta said its capital expenditures on AI and the metaverse-development division Reality Labs will range between $35 billion and $40 billion by the end of 2024.\nThat total was $5 billion more than it initially forecasted for developing new AI products for consumers, developers, businesses and hardware manufacturers.\nIn May, Zuckerberg formed a product advisory council to provide guidance on the company\u2019s AI and technology efforts.\nThe post Report: Meta to Reduce VP Positions From 300 to 250 appeared first on PYMNTS.com.", "date_published": "2024-06-12T20:08:24-04:00", "date_modified": "2024-06-12T20:08:24-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/06/Meta-Zuckerberg-1.jpg", "tags": [ "Meta", "Meta layoffs", "Meta vice presidents", "News", "PYMNTS News", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=1956474", "url": "https://www.pymnts.com/meta/2024/meta-platforms-to-introduce-free-ai-chatbots-on-whatsapp/", "title": "Meta Platforms to Introduce Free AI Chatbots on WhatsApp", "content_html": "Meta Platforms, the parent company of Facebook, is planning to introduce free artificial intelligence (AI) chatbots on WhatsApp as part of its strategy to monetize messaging apps. This move represents CEO Mark Zuckerberg’s efforts to incorporate AI into Meta’s apps and generate revenue.
\nUnlike its competitors, Meta is giving away its AI model and chatbot for free. This approach marks a departure from the targeted advertising tools used in Meta’s other platforms, such as Facebook and Instagram.
\nIn a recent announcement at a conference in Brazil, Meta launched its first AI-driven ad targeting program for businesses on WhatsApp. According to the Wall Street Journal, this marks a significant shift for the encrypted messaging service, which has previously emphasized its privacy credentials and avoided targeted advertising. The new AI tools will leverage user behavior on Facebook and Instagram to deliver messages to customers who are most likely to engage with them. Businesses will now have the opportunity to optimize ad delivery to these receptive users, which is crucial as they are paying for these messages.
\nMeta has been actively working to monetize WhatsApp, its largest app in terms of daily users. Despite its widespread popularity and the hefty $22 billion acquisition price in 2014, WhatsApp has contributed only a small portion of Meta’s total revenue. To address this, Meta has introduced commerce and payment features on the app, including business messaging tools for customer service and marketing. The new AI chatbot on WhatsApp will allow businesses to outsource their communications to automated tools, streamlining the process of answering common inquiries and providing assistance with tasks like finding catalogs or checking business hours.
\nFurthermore, Meta announced that it will integrate Brazil’s digital payment method PIX into its WhatsApp payment tool. PIX, developed by the central bank, accounted for approximately 39% of transactions in Brazil last year and offers similar services to WhatsApp payments, including money transfers and purchases from companies. This addition demonstrates Meta’s commitment to expanding its payment services within WhatsApp, following a similar move in India where it started offering payment services from rival providers.
\nThe post Meta Platforms to Introduce Free AI Chatbots on WhatsApp appeared first on PYMNTS.com.
\n", "content_text": "Meta Platforms, the parent company of Facebook, is planning to introduce free artificial intelligence (AI) chatbots on WhatsApp as part of its strategy to monetize messaging apps. This move represents CEO Mark Zuckerberg’s efforts to incorporate AI into Meta’s apps and generate revenue.\nUnlike its competitors, Meta is giving away its AI model and chatbot for free. This approach marks a departure from the targeted advertising tools used in Meta’s other platforms, such as Facebook and Instagram.\nIn a recent announcement at a conference in Brazil, Meta launched its first AI-driven ad targeting program for businesses on WhatsApp. According to the Wall Street Journal, this marks a significant shift for the encrypted messaging service, which has previously emphasized its privacy credentials and avoided targeted advertising. The new AI tools will leverage user behavior on Facebook and Instagram to deliver messages to customers who are most likely to engage with them. Businesses will now have the opportunity to optimize ad delivery to these receptive users, which is crucial as they are paying for these messages.\nMeta has been actively working to monetize WhatsApp, its largest app in terms of daily users. Despite its widespread popularity and the hefty $22 billion acquisition price in 2014, WhatsApp has contributed only a small portion of Meta’s total revenue. To address this, Meta has introduced commerce and payment features on the app, including business messaging tools for customer service and marketing. The new AI chatbot on WhatsApp will allow businesses to outsource their communications to automated tools, streamlining the process of answering common inquiries and providing assistance with tasks like finding catalogs or checking business hours.\nFurthermore, Meta announced that it will integrate Brazil’s digital payment method PIX into its WhatsApp payment tool. PIX, developed by the central bank, accounted for approximately 39% of transactions in Brazil last year and offers similar services to WhatsApp payments, including money transfers and purchases from companies. This addition demonstrates Meta’s commitment to expanding its payment services within WhatsApp, following a similar move in India where it started offering payment services from rival providers.\nThe post Meta Platforms to Introduce Free AI Chatbots on WhatsApp appeared first on PYMNTS.com.", "date_published": "2024-06-07T06:53:42-04:00", "date_modified": "2024-06-07T06:53:42-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2023/12/Whatsapp-1.jpg", "tags": [ "AI", "artificial intelligence", "chatbots", "Facebook", "marketing", "Meta", "meta platforms", "News", "PIX", "PYMNTS News", "What's Hot", "WhatsApp" ] }, { "id": "https://www.pymnts.com/?p=1952223", "url": "https://www.pymnts.com/meta/2024/facebook-records-highest-young-adult-use-in-three-years/", "title": "Facebook Records Highest Young Adult Use in Three Years", "content_html": "Meta Platforms says young adults are flocking to Facebook.
\n\u201cFacebook is still for everyone, but in order to build for the next generation of social media consumers, we\u2019ve made significant changes with young adults in mind,\u201d the social media giant wrote in a blog post Friday (May 31).
\n\u201cAnd with five quarters of healthy growth in young adult app usage in the US and Canada, over 40 million US/CA young adults are daily active users, and this number is the highest in three years,\u201d the post continued.
\nAs these young adults are making transitions like heading to college or getting their first apartment or job, Facebook says it has made changes to its core product to help them shop, find love or find work.
\nThat has meant expanding its artificial intelligence (AI) capabilities, with plans to add more advanced recommendation technology to the company\u2019s \u201centire video ecosystem,\u201d as well as its feed recommendations.
\n\u201cWe also made it easier for anyone to become a creator and earn money on Facebook,\u201d the post said. \u201cWe introduced a simplified product called Professional Mode designed for people who want to post publicly and grow a following, and it\u2019s grown to over 100 million daily active users in 18 months.\u201d
\nIn addition, Facebook says it has changed its payout model to pay creators based on how well their content performs on the platform, \u201csimplifying how creators earn and expanding monetization opportunities to all formats \u2014 photos, videos and text.\u201d
\nThe news comes on the heels of reports that another social media platform, TikTok, had lowered the threshold to join its affiliate program from 5,000 followers to 1,000. As noted here in May, this is a move designed to let more creators make money by collecting commissions on the sales they generate when they post videos promoting products available in the TikTok Shop.
\nMeanwhile, recent PYMNTS Intelligence research finds that these platforms are targeting a generation that is saving more of their income, percentage-wise, than other age groups \u2014 while also dealing with fewer emergency expenses.
\n\u201cThis may be creating a false sense of security. The combination of being able to save more while dealing with less unexpected costs may paint a prettier picture than reality can support,\u201d PYMNTS wrote last week.
\n\u201cMost Gen Z consumers have yet to land well-paying jobs or established careers, so they earn less, and 6 in 10 live paycheck to paycheck. Should their safety net of shared rent be taken away, their resulting lack of spending power could leave them particularly vulnerable.\u201d
\nThe post Facebook Records Highest Young Adult Use in Three Years appeared first on PYMNTS.com.
\n", "content_text": "Meta Platforms says young adults are flocking to Facebook.\n\u201cFacebook is still for everyone, but in order to build for the next generation of social media consumers, we\u2019ve made significant changes with young adults in mind,\u201d the social media giant wrote in a blog post Friday (May 31).\n\u201cAnd with five quarters of healthy growth in young adult app usage in the US and Canada, over 40 million US/CA young adults are daily active users, and this number is the highest in three years,\u201d the post continued.\nAs these young adults are making transitions like heading to college or getting their first apartment or job, Facebook says it has made changes to its core product to help them shop, find love or find work.\nThat has meant expanding its artificial intelligence (AI) capabilities, with plans to add more advanced recommendation technology to the company\u2019s \u201centire video ecosystem,\u201d as well as its feed recommendations.\n\u201cWe also made it easier for anyone to become a creator and earn money on Facebook,\u201d the post said. \u201cWe introduced a simplified product called Professional Mode designed for people who want to post publicly and grow a following, and it\u2019s grown to over 100 million daily active users in 18 months.\u201d\nIn addition, Facebook says it has changed its payout model to pay creators based on how well their content performs on the platform, \u201csimplifying how creators earn and expanding monetization opportunities to all formats \u2014 photos, videos and text.\u201d\nThe news comes on the heels of reports that another social media platform, TikTok, had lowered the threshold to join its affiliate program from 5,000 followers to 1,000. As noted here in May, this is a move designed to let more creators make money by collecting commissions on the sales they generate when they post videos promoting products available in the TikTok Shop.\nMeanwhile, recent PYMNTS Intelligence research finds that these platforms are targeting a generation that is saving more of their income, percentage-wise, than other age groups \u2014 while also dealing with fewer emergency expenses.\n\u201cThis may be creating a false sense of security. The combination of being able to save more while dealing with less unexpected costs may paint a prettier picture than reality can support,\u201d PYMNTS wrote last week.\n\u201cMost Gen Z consumers have yet to land well-paying jobs or established careers, so they earn less, and 6 in 10 live paycheck to paycheck. Should their safety net of shared rent be taken away, their resulting lack of spending power could leave them particularly vulnerable.\u201d\nThe post Facebook Records Highest Young Adult Use in Three Years appeared first on PYMNTS.com.", "date_published": "2024-06-02T16:20:34-04:00", "date_modified": "2024-06-02T16:21:53-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/06/facebook-young-adult-Gen-Z.jpg", "tags": [ "AI", "artificial intelligence", "Facebook", "Gen Z", "Generation Z", "Meta", "meta platforms", "News", "Professional Mode", "PYMNTS News", "social commerce", "Social Media", "What's Hot", "Young Adults" ] }, { "id": "https://www.pymnts.com/?p=1947727", "url": "https://www.pymnts.com/meta/2024/mark-zuckerberg-forms-advisory-council-to-inform-metas-ai-efforts/", "title": "Mark Zuckerberg Forms Advisory Council to Inform Meta\u2019s AI Efforts", "content_html": "Meta\u00a0CEO\u00a0Mark Zuckerberg has created a product advisory council to\u00a0provide guidance on\u00a0the company\u2019s artificial intelligence (AI) and technology efforts.
\nThe new Meta Advisory Group will meet periodically with Meta\u2019s management team, Bloomberg\u00a0reported Wednesday (May 22).
\nThe group will be composed of four executives:\u00a0Patrick Collison, CEO and co-founder of\u00a0Stripe;\u00a0Nat Friedman, former CEO of\u00a0GitHub;\u00a0Tobi L\u00fctke, CEO of\u00a0Shopify; and\u00a0Charlie Songhurst, an investor and former executive at\u00a0Microsoft, according to the report.
\nThe members of the Meta Advisory Group will not be paid and will offer their insights and recommendations on technological advancements, innovation and strategic growth opportunities, the report said.
\nUnlike Meta\u2019s board of directors, the members of the advisory group are not elected by shareholders and do not have a fiduciary duty to the company, per the report.
\nThe creation of the Meta Advisory Group comes as Meta aims to strengthen its focus on AI-focused products, according to the report. This includes hardware devices like virtual reality headsets and smart glasses, as well as software products such as Meta\u2019s AI assistant, which is available to consumers through various apps.
\nDuring Meta\u2019s recent earnings call, Zuckerberg expressed optimism and ambition in the field of AI, stating that the company has the potential to become the leading AI company in the world, per the report.
\nZuckerberg also emphasized the need for patience, as many of Meta\u2019s AI efforts may not yield immediate financial returns, the report said. The company faces competition from rivals like Google, Microsoft and startup Anthropic in the race to develop AI models that can drive the next generation of tech products.
\nWhile it is unclear how often the Meta Advisory Group will meet, Zuckerberg mentioned that the group will advise Meta\u2019s management team periodically moving\u00a0forward, per the report.
\nDuring Meta\u2019s earnings call held April 24, Zuckerberg brought up AI\u00a0and the metaverse\u00a0with\u00a0the first minute of the call.
\nThe company\u2019s earnings released that day showed that Meta plans to spend $5 billion more than it initially forecasted developing new AI products for consumers, developers, businesses and hardware manufacturers.
\nMeta\u2019s announcement of its $35 billion\u00a0investment in AI signaled an aggressive push in the escalating tech arms race, setting new precedents for how tech giants capitalize on advancements in this technology.
\nThe post Mark Zuckerberg Forms Advisory Council to Inform Meta\u2019s AI Efforts appeared first on PYMNTS.com.
\n", "content_text": "Meta\u00a0CEO\u00a0Mark Zuckerberg has created a product advisory council to\u00a0provide guidance on\u00a0the company\u2019s artificial intelligence (AI) and technology efforts.\nThe new Meta Advisory Group will meet periodically with Meta\u2019s management team, Bloomberg\u00a0reported Wednesday (May 22).\nThe group will be composed of four executives:\u00a0Patrick Collison, CEO and co-founder of\u00a0Stripe;\u00a0Nat Friedman, former CEO of\u00a0GitHub;\u00a0Tobi L\u00fctke, CEO of\u00a0Shopify; and\u00a0Charlie Songhurst, an investor and former executive at\u00a0Microsoft, according to the report.\nThe members of the Meta Advisory Group will not be paid and will offer their insights and recommendations on technological advancements, innovation and strategic growth opportunities, the report said.\nUnlike Meta\u2019s board of directors, the members of the advisory group are not elected by shareholders and do not have a fiduciary duty to the company, per the report.\nThe creation of the Meta Advisory Group comes as Meta aims to strengthen its focus on AI-focused products, according to the report. This includes hardware devices like virtual reality headsets and smart glasses, as well as software products such as Meta\u2019s AI assistant, which is available to consumers through various apps.\nDuring Meta\u2019s recent earnings call, Zuckerberg expressed optimism and ambition in the field of AI, stating that the company has the potential to become the leading AI company in the world, per the report.\nZuckerberg also emphasized the need for patience, as many of Meta\u2019s AI efforts may not yield immediate financial returns, the report said. The company faces competition from rivals like Google, Microsoft and startup Anthropic in the race to develop AI models that can drive the next generation of tech products.\nWhile it is unclear how often the Meta Advisory Group will meet, Zuckerberg mentioned that the group will advise Meta\u2019s management team periodically moving\u00a0forward, per the report.\nDuring Meta\u2019s earnings call held April 24, Zuckerberg brought up AI\u00a0and the metaverse\u00a0with\u00a0the first minute of the call.\nThe company\u2019s earnings released that day showed that Meta plans to spend $5 billion more than it initially forecasted developing new AI products for consumers, developers, businesses and hardware manufacturers.\nMeta\u2019s announcement of its $35 billion\u00a0investment in AI signaled an aggressive push in the escalating tech arms race, setting new precedents for how tech giants capitalize on advancements in this technology.\nThe post Mark Zuckerberg Forms Advisory Council to Inform Meta\u2019s AI Efforts appeared first on PYMNTS.com.", "date_published": "2024-05-22T15:04:48-04:00", "date_modified": "2024-05-22T15:04:48-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/04/Meta-AI.jpg", "tags": [ "AI", "artificial intelligence", "Charlie Songhurst", "github", "mark zuckerberg", "Meta", "Meta Advisory Group", "Microsoft", "Nat Friedman", "News", "Patrick Collison", "PYMNTS News", "shopify", "Stripe", "Tobi Lutke", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=1945135", "url": "https://www.pymnts.com/meta/2024/threads-testing-pinned-columns-feature-on-web-application/", "title": "Threads Testing \u2018Pinned Columns\u2019 Feature on Web Application", "content_html": "Threads is testing \u201cpinned columns\u201d on its web application.
\nMark Zuckerberg, founder, chairman and CEO of Meta, which owns the text-based social media app, announced the test in a Thursday (May 16) post on Threads.
\nThis feature is currently available only to members of a test group, Bloomberg reported Thursday.
\nIt allows users to pin as many as 100 feeds to their home page so that they can easily jump to those from people they follow, those recommended by the Threads algorithm, or those based on keywords or topics they have specified, according to the report.
\nThe \u201cpinned columns\u201d feature is similar to TweetDeck, a column-based social media tool that has since been changed into X Pro, TechCrunch reported Thursday.
\nThe report added that while TweetDeck-like tools are available for Bluesky and Mastodon, this is the first such tool for Threads.
\nX Pro, the renamed tool that used to be TweetDeck, transitioned to a subscriber-only feature in August 2023 and is now available only to members of the X Premium service.
\nTweetDeck was acquired by Twitter, which is now X, in 2011 due to its popularity among users. The tool allows users to view and customize multiple feeds in real time.
\nZuckerberg said on April 24 that Threads is \u201cgrowing well\u201d and now has more than 150 million monthly active users.
\nMeta launched Threads in more than 100 countries on July 5, 2023, saying it would take what Meta\u2019s Instagram does best and apply that to text. In the first seven hours after its debut, Threads gained 10 million signups.
\n\u201cThere are now more than 150 million monthly actives, and it continues to generally be on the trajectory I hoped to see,\u201d Zuckerberg said in April during Meta\u2019s quarterly earnings call.
\nIn another recent addition to the platform, it was reported in April that Meta had begun a limited-time, invitation-only bonus program that lets creators earn money on the content they post on Threads.
\nAmong the requirements listed on a Meta support page for the program is one saying that a post must receive at least 2,500 views. Those who are invited to participate in the program will receive a pop-up notification and invite.
\nThe post Threads Testing \u2018Pinned Columns\u2019 Feature on Web Application appeared first on PYMNTS.com.
\n", "content_text": "Threads is testing \u201cpinned columns\u201d on its web application.\nMark Zuckerberg, founder, chairman and CEO of Meta, which owns the text-based social media app, announced the test in a Thursday (May 16) post on Threads.\nThis feature is currently available only to members of a test group, Bloomberg reported Thursday.\nIt allows users to pin as many as 100 feeds to their home page so that they can easily jump to those from people they follow, those recommended by the Threads algorithm, or those based on keywords or topics they have specified, according to the report.\nThe \u201cpinned columns\u201d feature is similar to TweetDeck, a column-based social media tool that has since been changed into X Pro, TechCrunch reported Thursday.\nThe report added that while TweetDeck-like tools are available for Bluesky and Mastodon, this is the first such tool for Threads.\nX Pro, the renamed tool that used to be TweetDeck, transitioned to a subscriber-only feature in August 2023 and is now available only to members of the X Premium service.\nTweetDeck was acquired by Twitter, which is now X, in 2011 due to its popularity among users. The tool allows users to view and customize multiple feeds in real time.\nZuckerberg said on April 24 that Threads is \u201cgrowing well\u201d and now has more than 150 million monthly active users.\nMeta launched Threads in more than 100 countries on July 5, 2023, saying it would take what Meta\u2019s Instagram does best and apply that to text. In the first seven hours after its debut, Threads gained 10 million signups.\n\u201cThere are now more than 150 million monthly actives, and it continues to generally be on the trajectory I hoped to see,\u201d Zuckerberg said in April during Meta\u2019s quarterly earnings call.\nIn another recent addition to the platform, it was reported in April that Meta had begun a limited-time, invitation-only bonus program that lets creators earn money on the content they post on Threads.\nAmong the requirements listed on a Meta support page for the program is one saying that a post must receive at least 2,500 views. Those who are invited to participate in the program will receive a pop-up notification and invite.\nThe post Threads Testing \u2018Pinned Columns\u2019 Feature on Web Application appeared first on PYMNTS.com.", "date_published": "2024-05-16T16:50:18-04:00", "date_modified": "2024-05-16T16:50:18-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2023/12/threads-2.jpg", "tags": [ "digital transformation", "mark zuckerberg", "Meta", "News", "PYMNTS News", "Social Media", "Threads", "TweetDeck", "What's Hot", "X Pro" ] }, { "id": "https://www.pymnts.com/?p=1943884", "url": "https://www.pymnts.com/meta/2024/meta-to-phase-out-workplace-over-next-2-years/", "title": "Meta to Phase Out Workplace Over Next 2 Years", "content_html": "Meta Platforms\u00a0will be phasing out\u00a0Workplace, its office collaboration tool, over the next two years.
\nThe platform will continue working as usual until Aug. 31, 2025, when it will stop functioning, and users will be able to view and download their data until May 31, 2026, according to an email the company sent to PYMNTS.
\n\u201cWe are discontinuing Workplace from Meta so we can focus on building AI and metaverse technologies that we believe will fundamentally reshape the way we work,\u201d a Meta spokesperson said in the email. \u201cOver the next two years, we will provide our Workplace customers the option to transition to Zoom\u2019s\u00a0Workvivo\u00a0product, Meta\u2019s only preferred migration partner.\u201d
\nWorkplace\u00a0was designed for work interactions and aimed to compete with Slack and other workplace productivity tools, Bloomberg\u00a0reported\u00a0Tuesday (May 14).
\nThe\u00a0office collaboration tool was launched at the end of 2016. It aimed to gain market share in the office collaboration space at a time when \u2014 though Facebook had long set its sights on the business market \u2014 its product offerings resonated more with consumers.
\nMeta reported in a May 2021\u00a0blog post\u00a0that Workplace had 7 million\u00a0subscribers at\u00a0that time, a figure that was up more than 40% from a year earlier.
\nThe company said at the time that with the continuing prevalence of remote work, many employers were looking to create employee-centered positive experiences, regardless of where people work and live.
\n\u201cBusiness leaders are acknowledging that truly connecting with people in remote or hybrid working environments is business-critical,\u201d Meta said in the post. \u201cWe believe this growth is an indicator that more companies are thinking about how to build communities at work.\u201d
\nDuring Meta\u2019s most recent earnings call, which was held\u00a0April\u00a024, CEO\u00a0Mark Zuckerberg\u00a0made it clear that\u00a0artificial intelligence\u00a0(AI) and the metaverse were front and center.
\n\u201cWe\u2019re building\u00a0a number of\u00a0different AI services, from our AI assistant to augmented reality apps and glasses, to APIs [application programming interfaces] that help creators engage their communities and that fans can interact with, to business APIs that we think every business eventually on our platform will use.\u201d
\nThe post Meta to Phase Out Workplace Over Next 2 Years appeared first on PYMNTS.com.
\n", "content_text": "Meta Platforms\u00a0will be phasing out\u00a0Workplace, its office collaboration tool, over the next two years.\nThe platform will continue working as usual until Aug. 31, 2025, when it will stop functioning, and users will be able to view and download their data until May 31, 2026, according to an email the company sent to PYMNTS.\n\u201cWe are discontinuing Workplace from Meta so we can focus on building AI and metaverse technologies that we believe will fundamentally reshape the way we work,\u201d a Meta spokesperson said in the email. \u201cOver the next two years, we will provide our Workplace customers the option to transition to Zoom\u2019s\u00a0Workvivo\u00a0product, Meta\u2019s only preferred migration partner.\u201d\nWorkplace\u00a0was designed for work interactions and aimed to compete with Slack and other workplace productivity tools, Bloomberg\u00a0reported\u00a0Tuesday (May 14).\nThe\u00a0office collaboration tool was launched at the end of 2016. It aimed to gain market share in the office collaboration space at a time when \u2014 though Facebook had long set its sights on the business market \u2014 its product offerings resonated more with consumers.\nMeta reported in a May 2021\u00a0blog post\u00a0that Workplace had 7 million\u00a0subscribers at\u00a0that time, a figure that was up more than 40% from a year earlier.\nThe company said at the time that with the continuing prevalence of remote work, many employers were looking to create employee-centered positive experiences, regardless of where people work and live.\n\u201cBusiness leaders are acknowledging that truly connecting with people in remote or hybrid working environments is business-critical,\u201d Meta said in the post. \u201cWe believe this growth is an indicator that more companies are thinking about how to build communities at work.\u201d\nDuring Meta\u2019s most recent earnings call, which was held\u00a0April\u00a024, CEO\u00a0Mark Zuckerberg\u00a0made it clear that\u00a0artificial intelligence\u00a0(AI) and the metaverse were front and center.\n\u201cWe\u2019re building\u00a0a number of\u00a0different AI services, from our AI assistant to augmented reality apps and glasses, to APIs [application programming interfaces] that help creators engage their communities and that fans can interact with, to business APIs that we think every business eventually on our platform will use.\u201d\nThe post Meta to Phase Out Workplace Over Next 2 Years appeared first on PYMNTS.com.", "date_published": "2024-05-14T19:20:28-04:00", "date_modified": "2024-05-14T19:20:28-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/05/Meta-Workplace.jpg", "tags": [ "B2B", "B2B Payments", "commercial payments", "Meta", "News", "office collaboration", "PYMNTS News", "What's Hot", "What's Hot In B2B", "workplace", "Workvivo", "Zoom" ] } ] }