Meta and its AI Initiatives: Dominating the Tech Sphere to Serve with Efficiency – Analytics Insight

Meta and its AI Initiatives: Dominating the Tech Sphere to Serve with Efficiency

Meta, previously known as Facebook is a social networking site founded by Mark Zuckerberg when he was studying psychology at Harvard University. ‘Facebook,’ the name was taken from the sheets of paper distributed to freshmen, profiling students and staff. This online social networking service enables its users to connect with friends and family and make new connections as well. Within 24 hours since its launch, approx. 1,200 Harvard students had signed up, and after one month, over half of the undergraduate population had a profile.

Scaling New Horizons

As its popularity grew, Friendster attempted to acquire the company for US$10 million in mid-2004. Meta turned down the offer and subsequently received US$12.7 million in funding from Accel Partners at a valuation of around US$100 million. The next spring, Meta received US$25 million in funding from GreylockPartners and Meritech Capital as well as…

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