Meta platform is facing privacy complaints by eight EU consumer groups, the consumer bodies from conutries that include France and Denmark have accused the Facebook owner of violating privacy rules.

EU consumers file data privacy complaints against Meta

<p>Facebook's parent company Meta on Friday (Mar 1) announced that they will stop making payments to news publishers in Australia for the content which appears on Facebook.&nbsp;</p>

<p>This step has ignited a fresh battle with Canberra which was ahead of other countries in bringing a law which forced social media platforms to strike licencing deals.</p>

<p>News publishers as well as governments of countries like Australia have claimed that social media giants like Facebook and Google unfairly benefit from the links to news articles which appear on their platforms.&nbsp;</p>

<p>In the wake of these discussions, Meta has decreased its promotion of news as well as political content and has claimed that news links are now only visible on the feeds of a fraction of users.</p>

<p><strong>Also Read:</strong>&nbsp;<a href="https://www.wionews.com/world/european-consumers-challenge-metas-pay-or-consent-service-heres-why-695151">European consumers challenge Meta's 'pay or consent' service. Here's why</a></p>

<p>Meta has announced that it will discontinue the tab which promotes news on Facebook in Australia and the United States. It added that the news tab was pulled by the platform last year in the United Kingdom, France and Germany.</p>

<p>As a result, "we will not enter into new commercial deals for traditional news content in these countries and will not offer new Facebook products specifically for news publishers", Meta said&nbsp;in the statement.</p>

<h2><strong>Meta vs Australian government&nbsp;</strong></h2>

<p>Meta's decision has pitted the company against the Australian government which, as per a 2021 law opposed by the social media giant, enjoys the power to appoint a mediator who decides what amount big tech firms pay for the news links.</p>

<p>In a joint statement, Australia's Communications Minister Michelle Rowland and Assistant Treasurer Stephen Jones said, "Meta's decision to no longer pay for news content in a number of jurisdictions represents a dereliction of its commitment to the sustainability of Australian news media."</p>

<p>"The decision removes a significant source of revenue for Australian news media businesses. Australian news publishers deserve fair compensation for the content they provide," Rowland added.</p>

<p><strong>Watch:&nbsp;Meta CEO Mark Zuckerberg learns sword-making in Japan</strong></p>

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<p>She said that the government will "work through all available options" to address the concerns, along with the country's communications regulator.</p>

<p>The government was "committed to promoting a strong, sustainable and diverse media sector given its vital importance to our democracy and social cohesion", the minister said.</p>

<p>Meanwhile, the country's biggest media outlets criticised the decision and called it an attack on the industry.</p>

<p>News Corp Australasia Executive Chairman Michael Miller said, "Meta is using its immense market power to refuse to negotiate, and the government is right to explore every option for how the Media Bargaining Code's powers can be used."&nbsp;</p>

<p><em>(With inputs from agencies)</em></p>


Facebook's parent company Meta on Friday (Mar 1) announced that they will stop making payments to news publishers in Australia for the content which appears on Facebook.

Facebook's parent company Meta on Friday (Mar 1) announced that they will stop making payments to news publishers in Australia for the content which appears on Facebook. This step has ignited a fresh battle with Canberra which was ahead of other countries in bringing a law which forced social media platforms to strike licencing deals. News publishers as well as governments of countries like Australia have claimed that social media giants like Facebook and Google unfairly benefit from the links to news articles which appear on their platforms. In the wake of these discussions, Meta has decreased its promotion of news as well as political content and has claimed that news links are now only visible on the feeds of a fraction of users. Also Read: European consumers challenge Meta's 'pay or consent' service. Here's why Meta has announced that it will discontinue the tab which promotes news on Facebook in Australia and the United States. It added that the news tab was pulled by the platform last year in the United Kingdom, France and Germany. As a result, "we will not enter into new commercial deals for traditional news content in these countries and will not offer new Facebook products specifically for news publishers", Meta said in the statement. Meta vs Australian government Meta's decision has pitted the company against the Australian government which, as per a 2021 law opposed by the social media giant, enjoys the power to appoint a mediator who decides what amount big tech firms pay for the news links. In a joint statement, Australia's Communications Minister Michelle Rowland and Assistant Treasurer Stephen Jones said, "Meta's decision to no longer pay for news content in a number of jurisdictions represents a dereliction of its commitment to the sustainability of Australian news media." "The decision removes a significant source of revenue for Australian news media businesses. Australian news publishers deserve fair compensation for the content they provide," Rowland added. Watch: Meta CEO Mark Zuckerberg learns sword-making in Japan She said that the government will "work through all available options" to address the concerns, along with the country's communications regulator. The government was "committed to promoting a strong, sustainable and diverse media sector given its vital importance to our democracy and social cohesion", the minister said. Meanwhile, the country's biggest media outlets criticised the decision and called it an attack on the industry. News Corp Australasia Executive Chairman Michael Miller said, "Meta is using its immense market power to refuse to negotiate, and the government is right to explore every option for how the Media Bargaining Code's powers can be used." (With inputs from agencies)

Meta stops paying news publishers in Australia, pulls down news tab in ongoing tussle

<p>Consumer organisations from various EU nations have lodged formal complaints against Meta, alleging that the tech giant is unlawfully handling user data and employing its "pay or consent" mechanism to mask privacy violations.&nbsp;Complaints have been filed by consumer groups from the Czech Republic, Denmark, France, Greece, the Netherlands, Norway, Slovenia, and Spain, media reports said.&nbsp;</p>

<p>Meta, previously known as Facebook, has faced criticism for its alleged lucrative practice of selling user data to advertisers. This has sparked confrontations with EU authorities regarding data privacy regulations.</p>

<p>Meta, last year in November, introduced a "pay or consent" system enabling users to abstain from data utilisation for targeted advertising by paying a monthly fee.</p>

<p>However, privacy advocates have raised concerns over its legality.</p>

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<p>The European Consumer Organisation (BEUC) labeled Meta's system "a smokescreen to obscure the real problem of massive, illegal data processing of users which goes on regardless of what users choose."</p>

<p>BEUC's Deputy Director General, Ursula Pachl, emphasised the need for data protection and authorities to intervene, stating, "It's time for data protection authorities to stop Meta's unfair data processing and its infringing of people's fundamental rights."</p>

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<p>BEUC's report also accused Meta of violating GDPR principles by lacking transparency and overcollecting user data for commercial gain.</p>

<p>The report said, "Meta seems to be of the opinion that in order for the company to earn money with advertising, it is justified to collect any imaginable data on consumers' activities, location, personalities, behaviour, attitudes and emotions."&nbsp;</p>

<p>"In reality, the massive exploitation of the private lives of hundreds of millions of European consumers for commercial gain fails to respect various fundamental principles of the GDPR," it added.&nbsp;</p>

<p><strong>Watch |&nbsp;<a href="https://www.wionews.com/videos/idaho-fails-to-execute-serial-killer-thomas-creech-after-10-failed-attempts-695133">Idaho fails to execute serial killer Thomas Creech after 10 failed attempts</a></strong></p>

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<p>Under Meta's model, European users can opt out of data sharing for a monthly fee ranging from 10 to 13 euros. However, BEUC argues that this approach coerces consent, which is against GDPR requirements.</p>

<p><em>(With inputs from agencies)</em></p>


Consumer organisations from various EU nations have lodged formal complaints against Meta, alleging that the tech giant is unlawfully handling user data and employing its "pay or consent" mechanism to mask privacy violations.

Consumer organisations from various EU nations have lodged formal complaints against Meta, alleging that the tech giant is unlawfully handling user data and employing its "pay or consent" mechanism to mask privacy violations. Complaints have been filed by consumer groups from the Czech Republic, Denmark, France, Greece, the Netherlands, Norway, Slovenia, and Spain, media reports said. Meta, previously known as Facebook, has faced criticism for its alleged lucrative practice of selling user data to advertisers. This has sparked confrontations with EU authorities regarding data privacy regulations. Meta, last year in November, introduced a "pay or consent" system enabling users to abstain from data utilisation for targeted advertising by paying a monthly fee. However, privacy advocates have raised concerns over its legality. Also Read | Putin says West creating 'real' risk of nuclear war The European Consumer Organisation (BEUC) labeled Meta's system "a smokescreen to obscure the real problem of massive, illegal data processing of users which goes on regardless of what users choose." BEUC's Deputy Director General, Ursula Pachl, emphasised the need for data protection and authorities to intervene, stating, "It's time for data protection authorities to stop Meta's unfair data processing and its infringing of people's fundamental rights." Also Read | Shooting in US' Orlando kills one person, injures several others BEUC's report also accused Meta of violating GDPR principles by lacking transparency and overcollecting user data for commercial gain. The report said, "Meta seems to be of the opinion that in order for the company to earn money with advertising, it is justified to collect any imaginable data on consumers' activities, location, personalities, behaviour, attitudes and emotions." "In reality, the massive exploitation of the private lives of hundreds of millions of European consumers for commercial gain fails to respect various fundamental principles of the GDPR," it added. Watch | Idaho fails to execute serial killer Thomas Creech after 10 failed attempts × Under Meta's model, European users can opt out of data sharing for a monthly fee ranging from 10 to 13 euros. However, BEUC argues that this approach coerces consent, which is against GDPR requirements. (With inputs from agencies)

European consumers challenge Meta's 'pay or consent' service. Here's why

Meta CEO Mark Zuckerberg is a man of many talents and on his Asia tour he decided to add another to the list with the help of Japanese sword Masters. He was seen crafting a traditional Japanese sword, take a look at the report! Watch to know more!

Mark Zuckerberg Asia Tour: Meta chief learns sword making during Japan visit

20 major tech companies have joined forces to prevent deceptive AI content from influencing Global elections this year signatories of the agreement include Tech giants like open AI, Microsoft, adobe, meta platforms, Tik Tok and X. Now the agreement involves developing detection tools, public awareness campaigns and taking action against misleading content generated by AI. Watch to know more!

Meta to launch elections operations center for EU elections, action against AI threat to elections

Meta CEO Mark Zuckerberg recently took a sword-making lesson from a Japanese sword master. He shared a video of himself making a katana, a traditional Japanese sword known for its sharpness.

Meta CEO Mark Zuckerberg learns sword-making in Japan

<p>Do you find yourself disappointed by dating apps, yet find yourself swiping right and left for hours, only to face disappointment?&nbsp;Many of us have found themselves stuck in this loop, and a proposed class-action lawsuit filed on Valentine's Day alleges that dating apps, specifically those owned by Match Group, are to blame.&nbsp;</p>

<p>It claims that apps, including Tinder and Hinge, are designed to addict users and keep them in a "perpetual pay-to-play loop."&nbsp;</p>

<h2><strong>Driving addiction</strong></h2>

<p>The lawsuit, filed in California district court, claims that the apps' hidden algorithms drive users' addiction. This is in sharp contrast to the company's claim that its products are meant to help people find offline relationships.</p>

<p><strong>Also read |&nbsp;<a href="https://www.wionews.com/world/luxury-bazaar-ceo-roman-sharf-bags-trump-autographed-never-surrender-sneakers-for-9000-691723">Luxury Bazaar CEO Roman Sharf bags Trump-autographed ‘Never Surrender’ sneakers for $9,000</a></strong></p>

<p>According to the lawsuit, users are baited into continually upgrading their subscriptions and paying for bonus features that promise a better chance at finding love but only serve to boost the company's profits. The apps allegedly use dopamine-manipulating techniques to gamify romance and dating, encouraging compulsive use.</p>

<p>As per CBS News, six plaintiffs have alleged that the apps are in violation of consumer protection and other laws.</p>

<h2><strong>'Ridiculous' lawsuit</strong></h2>

<p>Match Group has dismissed the lawsuit as "ridiculous" and with "zero merit", stating that its business model is not based on advertising or engagement metrics.&nbsp;</p>

<p>The company Match Group, in a statement to the CBS Moneywatch said that they "actively strive to get people on dates every day and off our apps. Anyone who states anything else doesn't understand the purpose and mission of our entire industry."</p>

<p><strong>Also read |&nbsp;<a href="https://www.wionews.com/technology/social-media-pushing-youngsters-towards-more-misogynistic-content-finds-study-687528">Social media pushing youngsters towards more misogynistic content, finds study</a></strong></p>

<p>The lawsuit also accuses Match Group of using "dark patterns," web design features meant to trick people into buying things or paying for services they didn't intend to buy. This practice has been cracked down on by the Federal Trade Commission (FTC) in the past — it ordered communications provider Vonage to pay customers nearly $100 million in October.</p>

<p>The lawsuit comes at a time when states are targeting tech companies like Meta, which owns Instagram and Facebook, for harming young users with addictive features on their social media apps, exacerbating mental health issues.</p>

<p><em>(With inputs from agencies)</em></p>


Do you find yourself disappointed by dating apps, yet find yourself swiping right and left for hours, only to face disappointment? Many of us have found themselves stuck in this loop, and a proposed class-action lawsuit filed on Valentine's Day alleges that dating apps, specifically those owned by Match Group, are to blame.

Do you find yourself disappointed by dating apps, yet find yourself swiping right and left for hours, only to face disappointment? Many of us have found themselves stuck in this loop, and a proposed class-action lawsuit filed on Valentine's Day alleges that dating apps, specifically those owned by Match Group, are to blame. It claims that apps, including Tinder and Hinge, are designed to addict users and keep them in a "perpetual pay-to-play loop." Driving addiction The lawsuit, filed in California district court, claims that the apps' hidden algorithms drive users' addiction. This is in sharp contrast to the company's claim that its products are meant to help people find offline relationships. Also read | Luxury Bazaar CEO Roman Sharf bags Trump-autographed ‘Never Surrender’ sneakers for $9,000 According to the lawsuit, users are baited into continually upgrading their subscriptions and paying for bonus features that promise a better chance at finding love but only serve to boost the company's profits. The apps allegedly use dopamine-manipulating techniques to gamify romance and dating, encouraging compulsive use. As per CBS News, six plaintiffs have alleged that the apps are in violation of consumer protection and other laws. 'Ridiculous' lawsuit Match Group has dismissed the lawsuit as "ridiculous" and with "zero merit", stating that its business model is not based on advertising or engagement metrics. The company Match Group, in a statement to the CBS Moneywatch said that they "actively strive to get people on dates every day and off our apps. Anyone who states anything else doesn't understand the purpose and mission of our entire industry." Also read | Social media pushing youngsters towards more misogynistic content, finds study The lawsuit also accuses Match Group of using "dark patterns," web design features meant to trick people into buying things or paying for services they didn't intend to buy. This practice has been cracked down on by the Federal Trade Commission (FTC) in the past — it ordered communications provider Vonage to pay customers nearly $100 million in October. The lawsuit comes at a time when states are targeting tech companies like Meta, which owns Instagram and Facebook, for harming young users with addictive features on their social media apps, exacerbating mental health issues. (With inputs from agencies)

Swipe right for addiction? Lawsuit claims dating apps Tinder and Hinge designed to keep users swiping

Facebook parent company Meta said it shut down thousands of fake Facebook accounts originating from China. These fake account holders posed as US military families and anti-war activists.

Meta shuts down thousands of fake China-based Facebook accounts

<p>If you were born in the 1990s or before, chances are that you are aware of major social media platforms that exist in the present day and the ones that were there in the days gone by during the early years of the internet. Remember the good old Orkut days? For the GenZs, that could be obsolete.&nbsp;</p>

<p>In real-time, there exist social media platforms that are slowly undergoing decay. They appear to have surpassed the zenith of their popularity and are now plateauing towards a period of contested popular appeal.&nbsp;</p>

<p><strong>Also read |&nbsp;<a href="https://www.wionews.com/world/dark-side-of-social-media-do-x-facebook-instagram-care-about-your-mental-health-wion-investigates-679040">Dark side of social media: Do X, Facebook, Instagram care about your mental health? WION investigates</a></strong></p>

<p>Canadian-British blogger and journalist Cory Doctorow in 2023 coined the term "enshittification" to describe the way that online platforms decay.&nbsp;</p>

<p>The American Dialect Society made it its Word of the Year for 2023.</p>

<h2><strong>What is ‘enshittification’ about?</strong></h2>

<p>Doctorow, in an article published on Financial Times, theorised that we all are living through a period of "great enshittenning". The enshittification described how the internet was colonised by [online] platforms and why all those platforms are "degrading so quickly and thoroughly".&nbsp;</p>

<p>Doctorow presents enshittification as a three-stage process.&nbsp;</p>

<p><strong>Also watch |&nbsp;Gravitas | Meta CEO grilled: The sorry state of Mark Zuckerberg</strong></p>

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<p>"First, platforms are good to their users. Then they abuse their users to make things better for their business customers. Finally, they abuse those business customers to claw back all the value for themselves. Then, there is a fourth stage: they die," Doctorow writes while citing Facebook as a case study.</p>

<p>Doctorow further adds that towards the conclusive decay of a service, the difference between "I hate this service, but I can’t bring myself to quit," and "Jesus Christ, why did I wait so long to quit?" is razor-thin.</p>

<p>"All it takes is one Cambridge Analytica scandal, one whistleblower, one livestreamed mass-shooting, and users bolt for the exits, and then Facebook discovers that network effects are a double-edged sword," Doctorow adds.&nbsp;</p>

<p>If users can’t leave the platform&nbsp;because everyone else is staying, when everyone starts to leave, there’s no reason not to go. That’s terminal enshittification, Cory Doctorow&nbsp;describes.</p>

<p><em>(With inputs from agencies)</em></p>


If you were born in the 1990s or before, chances are that you are aware of major social media platforms that exist in the present day and the ones that were there in the days gone by during the early years of the internet.

If you were born in the 1990s or before, chances are that you are aware of major social media platforms that exist in the present day and the ones that were there in the days gone by during the early years of the internet. Remember the good old Orkut days? For the GenZs, that could be obsolete. In real-time, there exist social media platforms that are slowly undergoing decay. They appear to have surpassed the zenith of their popularity and are now plateauing towards a period of contested popular appeal. Also read | Dark side of social media: Do X, Facebook, Instagram care about your mental health? WION investigates Canadian-British blogger and journalist Cory Doctorow in 2023 coined the term "enshittification" to describe the way that online platforms decay. The American Dialect Society made it its Word of the Year for 2023. What is ‘enshittification’ about? Doctorow, in an article published on Financial Times, theorised that we all are living through a period of "great enshittenning". The enshittification described how the internet was colonised by [online] platforms and why all those platforms are "degrading so quickly and thoroughly". Doctorow presents enshittification as a three-stage process. Also watch | Gravitas | Meta CEO grilled: The sorry state of Mark Zuckerberg × "First, platforms are good to their users. Then they abuse their users to make things better for their business customers. Finally, they abuse those business customers to claw back all the value for themselves. Then, there is a fourth stage: they die," Doctorow writes while citing Facebook as a case study. Doctorow further adds that towards the conclusive decay of a service, the difference between "I hate this service, but I can’t bring myself to quit," and "Jesus Christ, why did I wait so long to quit?" is razor-thin. "All it takes is one Cambridge Analytica scandal, one whistleblower, one livestreamed mass-shooting, and users bolt for the exits, and then Facebook discovers that network effects are a double-edged sword," Doctorow adds. If users can’t leave the platform because everyone else is staying, when everyone starts to leave, there’s no reason not to go. That’s terminal enshittification, Cory Doctorow describes. (With inputs from agencies)

What is 'enshittification', the term for decay of online platforms? Is Facebook going through it?

<p>Meta, the parent company of Facebook and Instagram, as per reports, is considering removing posts on social media that use the word "Zionist." This step is being considered to counter a surge of antisemitism, hate speech online, especially during the Israel-Gaza conflict, reports The Washington Post citing people familiar with private deliberations and internal guidance on the topic.&nbsp;</p>

<p>Reportedly, the social media giant has told some civil society groups that 'Zionist' at times is being used as a hurtful substitute for 'Jews' or 'Israelis'.</p>

<p><strong>Also read |&nbsp;<a href="https://www.wionews.com/world/released-israeli-hostages-plead-with-netanyahu-to-push-for-ceasefire-deal-688786">Released Israeli hostages plead with Netanyahu to push for ceasefire deal</a></strong></p>

<p>The CEO and national director of the Anti-Defamation League, Jonathan Greenblatt, as per the report said "Whether the culprit is a hardened antizionist or a White nationalist, the term 'Zionist' is often used as an ugly synonym for 'Jew'". He also said that he had not been consulted on Meta's potential policy changes.</p>

<h2><strong>Antisemitism online</strong></h2>

<p>Since the start of the Israel and Hamas there has been a lot more hate speech online.</p>

<p>On platforms including Meta's Facebook and Instagram, Greenblatt said "antisemitic posts … directly invoke the words 'Zionist' or 'Zionism' in a manner that is not just pejorative but antisemitic, threatening and shameful."</p>

<p>In a statement Meta spokeswoman Erin McPike said that the company doesn't allow&nbsp;people to attack others on the basis of religion or nationality.</p>

<p><strong>Also read |&nbsp;<a href="https://www.wionews.com/world/ahead-of-possible-offensive-netanyahu-orders-plan-for-rafah-evacuation-688806">Ahead of possible offensive, Netanyahu orders plan for Rafah evacuation</a></strong></p>

<p>"While the term 'Zionist' often refers to a person’s ideology, which is not a protected characteristic, it can also be used to refer to Jewish or Israeli people."</p>

<p>"Given the increase in polarised public discourse due to events in the Middle East, we believe it’s important to assess our guidance for reviewing posts that use the term 'Zionist.'"</p>

<h2><strong>People against the move</strong></h2>

<p>However, not everyone is okay with the move. It has triggered an alarm among digital rights activists and pro-Palestinians who have alleged that the group would stifle legitimate political critiques of the Israeli government, its armed forces and Zionism, during the ongoing war.</p>

<p>Nadim Nashif, co-founder of the pro-Palestinian digital rights group 7amleh said that "Zionism is an ideology. It's not a race."</p>

<p>"As I told them, in my opinion, this is a slippery slope. From there, you can remove a lot of content that is criticizing Israel and Zionism that is part of legitimate political discussion."</p>

<p><em>(With inputs from agencies)</em></p>


Meta, the parent company of Facebook and Instagram, as per reports, is considering removing posts on social media that use the word "Zionist." This step is being considered to counter a surge of antisemitism, hate speech online, especially during the Israel-Gaza conflict, reports The Washington Post citing people familiar with private deliberations and internal guidance on the topic.

Meta, the parent company of Facebook and Instagram, as per reports, is considering removing posts on social media that use the word "Zionist." This step is being considered to counter a surge of antisemitism, hate speech online, especially during the Israel-Gaza conflict, reports The Washington Post citing people familiar with private deliberations and internal guidance on the topic. Reportedly, the social media giant has told some civil society groups that 'Zionist' at times is being used as a hurtful substitute for 'Jews' or 'Israelis'. Also read | Released Israeli hostages plead with Netanyahu to push for ceasefire deal The CEO and national director of the Anti-Defamation League, Jonathan Greenblatt, as per the report said "Whether the culprit is a hardened antizionist or a White nationalist, the term 'Zionist' is often used as an ugly synonym for 'Jew'". He also said that he had not been consulted on Meta's potential policy changes. Antisemitism online Since the start of the Israel and Hamas there has been a lot more hate speech online. On platforms including Meta's Facebook and Instagram, Greenblatt said "antisemitic posts … directly invoke the words 'Zionist' or 'Zionism' in a manner that is not just pejorative but antisemitic, threatening and shameful." In a statement Meta spokeswoman Erin McPike said that the company doesn't allow people to attack others on the basis of religion or nationality. Also read | Ahead of possible offensive, Netanyahu orders plan for Rafah evacuation "While the term 'Zionist' often refers to a person’s ideology, which is not a protected characteristic, it can also be used to refer to Jewish or Israeli people." "Given the increase in polarised public discourse due to events in the Middle East, we believe it’s important to assess our guidance for reviewing posts that use the term 'Zionist.'" People against the move However, not everyone is okay with the move. It has triggered an alarm among digital rights activists and pro-Palestinians who have alleged that the group would stifle legitimate political critiques of the Israeli government, its armed forces and Zionism, during the ongoing war. Nadim Nashif, co-founder of the pro-Palestinian digital rights group 7amleh said that "Zionism is an ideology. It's not a race." "As I told them, in my opinion, this is a slippery slope. From there, you can remove a lot of content that is criticizing Israel and Zionism that is part of legitimate political discussion." (With inputs from agencies)

Meta considers removing posts with word 'zionist'. Here's why

<p>Meta announced on Thursday (Feb 9) that it had taken down the Facebook and Instagram accounts belonging to Ayatollah Ali Khamenei, Iran's supreme leader, citing violations of its content policies. A spokesperson for Meta told AFP, "We have removed these accounts for repeatedly violating our Dangerous Organizations &amp; Individuals policy." The decision comes amidst mounting pressure on Meta to ban Khamenei following the October 7 attack by Hamas on Israel. However, it is worth noting that Meta did not explicitly reference this event in their statement while taking down Khamenei's social media accounts.&nbsp;</p>

<p>Following the attack, Khamenei expressed support for Hamas' actions but denied any involvement from Iran. "The supporters of the Zionist regime (Israel) and some people in the usurping regime have been spreading rumours over the past two or three days, including that Islamic Iran was behind this action. They are wrong," he had said in a speech at a military academy.&nbsp;</p>

<p>"Of course, we defend Palestine, we defend the struggles," he added, urging "the whole Islamic world" to "support the Palestinians," he added. The Iranian supreme leader also publicly endorsed Palestinian retaliation against Israel's actions in Gaza earlier and spoke in favour of attacks on shipping in the Red Sea by Yemen's Houthi rebels.&nbsp;</p>

<p>Khamenei, who has held power in Iran for 35 years, boasted five million followers on Instagram.</p>

<p>Meta's decision was based on its policy aimed at preventing real-world harm by disallowing organisations or individuals with violent agendas from using their platforms.</p>

<p>The policy states, "In an effort to prevent and disrupt real-world harm, we do not allow organizations or individuals that proclaim a violent mission or are engaged in violence to have a presence on our platforms," says the policy on which Meta based its decision."</p>

<p>Notably, Hamas is officially designated as a foreign terrorist organization by the United States. Reports said that Iranians utilise virtual private networks (VPNs) to circumvent restrictions and access prohibited websites or apps, including those owned by US companies like Facebook, Twitter, and YouTube.</p>

<p><em>(With inputs from agencies)</em></p>


Meta announced on Thursday (Feb 9) that it had taken down the Facebook and Instagram accounts belonging to Ayatollah Ali Khamenei, Iran's supreme leader, citing violations of its content policies.

Meta announced on Thursday (Feb 9) that it had taken down the Facebook and Instagram accounts belonging to Ayatollah Ali Khamenei, Iran's supreme leader, citing violations of its content policies. A spokesperson for Meta told AFP, "We have removed these accounts for repeatedly violating our Dangerous Organizations & Individuals policy." The decision comes amidst mounting pressure on Meta to ban Khamenei following the October 7 attack by Hamas on Israel. However, it is worth noting that Meta did not explicitly reference this event in their statement while taking down Khamenei's social media accounts. Following the attack, Khamenei expressed support for Hamas' actions but denied any involvement from Iran. "The supporters of the Zionist regime (Israel) and some people in the usurping regime have been spreading rumours over the past two or three days, including that Islamic Iran was behind this action. They are wrong," he had said in a speech at a military academy. "Of course, we defend Palestine, we defend the struggles," he added, urging "the whole Islamic world" to "support the Palestinians," he added. The Iranian supreme leader also publicly endorsed Palestinian retaliation against Israel's actions in Gaza earlier and spoke in favour of attacks on shipping in the Red Sea by Yemen's Houthi rebels. Khamenei, who has held power in Iran for 35 years, boasted five million followers on Instagram. Meta's decision was based on its policy aimed at preventing real-world harm by disallowing organisations or individuals with violent agendas from using their platforms. The policy states, "In an effort to prevent and disrupt real-world harm, we do not allow organizations or individuals that proclaim a violent mission or are engaged in violence to have a presence on our platforms," says the policy on which Meta based its decision." Notably, Hamas is officially designated as a foreign terrorist organization by the United States. Reports said that Iranians utilise virtual private networks (VPNs) to circumvent restrictions and access prohibited websites or apps, including those owned by US companies like Facebook, Twitter, and YouTube. (With inputs from agencies)

Meta removes Iran Supreme Leader Khamenei from Facebook, Instagram for policy violations

<p class="MsoNormal"><span lang="EN-GB">In a staggering downturn, Snap, the parent company of Snapchat, witnessed a sharp decline of over 32 per cent in its shares on Wednesday, following disappointing fourth-quarter revenue results that fell short of Wall Street expectations. <o:p></o:p></span></p>

<p class="MsoNormal"><span lang="EN-GB">This is based on a Reuters report.<o:p></o:p></span></p>

<p class="MsoNormal"><span lang="EN-GB">The plummeting stock value, coupled with the struggle to compete for advertising dollars against industry giants like Meta and Alphabet, raises concerns about Snap's ability to maintain its market momentum.<o:p></o:p></span></p>

<p class="MsoNormal"><span lang="EN-GB">Snap's fourth-quarter revenue reached $1.36 billion, missing the estimated $1.38 billion, marking a significant setback for the company in the fiercely competitive advertising landscape. <o:p></o:p></span></p>

<p class="MsoNormal"><span lang="EN-GB">Unlike Snap, Meta experienced a remarkable 25 per cent surge in advertising sales during the holiday quarter, while Alphabet's Google ad business grew by 11 per cent, with YouTube ad sales increasing by 16 per cent in the same period.<o:p></o:p></span></p>

<p class="MsoNormal"><span lang="EN-GB">Jasmine Enberg, principal analyst at Insider Intelligence, commented on Snap's performance, stating, "Once again, Snap's results have disappointed investors," noting that the company's rebound is struggling to keep pace with the significant successes of tech giants in the advertising arena. <o:p></o:p></span></p>

<p class="MsoNormal"><span lang="EN-GB">Susannah Streeter, head of money and markets at Hargreaves Lansdown, emphasised the concern over Snap's management, stating that the recent disappointing results have turned into a "crisis of confidence”.<o:p></o:p></span></p>

<p class="MsoNormal"><span lang="EN-GB">The market reaction to Snap's underwhelming performance is further intensified by the company's decision to lay off 10 per cent of its workforce, amounting to 528 employees. <o:p></o:p></span></p>

<p class="MsoNormal"><span lang="EN-GB">This move aims to "invest incrementally" in Snap's growth over time, but Bernstein analyst Mark Shmulik points out that despite these layoffs, the cost per employee remains high compared to industry benchmarks, while ad revenue growth lags behind. <o:p></o:p></span></p>

<p class="MsoNormal"><span lang="EN-GB">Snap's shares currently trade at a forward price-to-earnings (PE) ratio of 88.37, in stark contrast to Meta's 22.71 and Pinterest's 29.47, indicating a less attractive investment opportunity.<o:p></o:p></span></p>

<p class="MsoNormal"><span lang="EN-GB">"Investor patience has been tested, and it's clear fewer are optimistic about Snap's ability to bounce back from the ad slump," noted Susannah Streeter. <o:p></o:p></span></p>

<p class="MsoNormal"><span lang="EN-GB">The market response signals a crisis for Snap, with its shares heading for the worst day since July 2022.<o:p></o:p></span></p>

<p class="MsoNormal"><i><span lang="EN-GB">(With inputs from Reuters)<o:p></o:p></span></i></p>


In a staggering downturn, Snap, the parent company of Snapchat, witnessed a sharp decline of over 32 per cent in its shares on Wednesday, following disappointing fourth-quarter revenue results that fell short of Wall Street expectations.

In a staggering downturn, Snap, the parent company of Snapchat, witnessed a sharp decline of over 32 per cent in its shares on Wednesday, following disappointing fourth-quarter revenue results that fell short of Wall Street expectations. This is based on a Reuters report. The plummeting stock value, coupled with the struggle to compete for advertising dollars against industry giants like Meta and Alphabet, raises concerns about Snap's ability to maintain its market momentum. Snap's fourth-quarter revenue reached $1.36 billion, missing the estimated $1.38 billion, marking a significant setback for the company in the fiercely competitive advertising landscape. Unlike Snap, Meta experienced a remarkable 25 per cent surge in advertising sales during the holiday quarter, while Alphabet's Google ad business grew by 11 per cent, with YouTube ad sales increasing by 16 per cent in the same period. Jasmine Enberg, principal analyst at Insider Intelligence, commented on Snap's performance, stating, "Once again, Snap's results have disappointed investors," noting that the company's rebound is struggling to keep pace with the significant successes of tech giants in the advertising arena. Susannah Streeter, head of money and markets at Hargreaves Lansdown, emphasised the concern over Snap's management, stating that the recent disappointing results have turned into a "crisis of confidence”. The market reaction to Snap's underwhelming performance is further intensified by the company's decision to lay off 10 per cent of its workforce, amounting to 528 employees. This move aims to "invest incrementally" in Snap's growth over time, but Bernstein analyst Mark Shmulik points out that despite these layoffs, the cost per employee remains high compared to industry benchmarks, while ad revenue growth lags behind. Snap's shares currently trade at a forward price-to-earnings (PE) ratio of 88.37, in stark contrast to Meta's 22.71 and Pinterest's 29.47, indicating a less attractive investment opportunity. "Investor patience has been tested, and it's clear fewer are optimistic about Snap's ability to bounce back from the ad slump," noted Susannah Streeter. The market response signals a crisis for Snap, with its shares heading for the worst day since July 2022. (With inputs from Reuters)

Snap faces investor backlash as ad revenue stumbles against tech giants Meta, Alphabet

Social media platform Snapchat's owner Snap has had its worst day since July 2022. The company stocks fell by 32 per cent after it announced lower-than-expected results. Attracting advertisers seem to be snap's biggest hurdle as companies shift to more stable firms like rival Meta.

Snapchat shares slump over 32% after weak results

Facebook and Instagram users will start seeing labels on AI-generated images that appear on their social media feeds, part of a broader tech industry initiative to sort between what’s real and not.

Meta to label AI-generated images on Facebook and Instagram

Researchers said they detected a fourfold rise in the level of misogynistic content suggested by TikTok over a five-day period as the algorithm served more extreme videos that were often focused on anger and blame directed at women.

Social media 'fuelling playground misogyny'

<p>With United States presidential elections just months away, Meta’s Oversight Board, on Monday (Feb 5) has determined a Facebook video wrongfully suggesting that United States President Joe Biden is a paedophile does not violate the company’s current rules, while also deeming the said rules as “incoherent”.&nbsp;</p>

<h2><strong>About the case</strong></h2>

<p>The oversight board, which is funded by Meta but runs independently, made a decision about the edited video of the US president which shows him with his adult granddaughter, manipulated to falsely appear that he inappropriately touched her chest.&nbsp;</p>

<p>The clip went viral last year prompting Facebook parent company Meta’s independent Supreme Court-style body of journalists, academics and politicians to open an investigation.&nbsp;</p>

<p><strong>ALSO READ |&nbsp;<a href="https://www.wionews.com/technology/ais-double-edged-sword-technology-making-hacking-easy-for-non-tech-savvy-people-warn-us-officials-678440">AI's double-edged sword: Technology making hacking easy for non-tech-savvy people, warn US officials</a></strong></p>

<p>The investigation is said to be the first of its kind into Meta’s “manipulated media” policies when the distorted version of a video during the 2022 midterm elections showing Biden placing an “I Voted” sticker on his adult granddaughter’s chest and kissing her on the cheek went viral.&nbsp;</p>

<p>The clip was reported to the social media giant and its oversight board as hate speech. Meta’s current “manipulated media” bars certain types of doctored videos but only if they were produced by AI or make people appear to say words they never actually said.&nbsp;</p>

<p>The hearing comes amid concerns about using AI to influence the outcome of the elections as 2024 is a historic year with more than two billion people across the world set to go to the polls in 50 countries, including the US and India.&nbsp;</p>

<h2><strong>What did the board find?</strong></h2>

<p>The board found that the platform was technically correct to leave the video online as in the US president’s case “the video was not manipulated using artificial intelligence nor did it depict Biden saying something he did not.”</p>

<p>However, also the board said that the policy which allowed the clip to stay on the platform “is lacking in persuasive justification, is incoherent and confusing to users, and fails to clearly specify the harms it is seeking to prevent.”&nbsp;</p>

<p><strong>ALSO READ |&nbsp;<a href="https://www.wionews.com/world/us-president-biden-signs-sweeping-executive-order-to-cut-ai-risks-to-public-national-security-653228">US President Biden signs sweeping executive order to regulate AI</a></strong></p>

<p>It&nbsp;suggested that Meta update the rule to cover both audio and video content, regardless of whether AI was used. Additionally, it also urged the company to apply labels identifying the content as manipulated but stopped short of calling for the policy to apply to photographs.&nbsp;</p>

<p>The board insisted that “non-AI-altered content is prevalent and not necessarily any less misleading” than content generated by AI tools. It also urged the company to reconsider the policy “quickly, given the number of elections in 2024.”</p>

<p>In a statement, Meta said it was reviewing the ruling and would respond publicly within 60 days.</p>

<p><em>(With inputs from agencies)</em><br />
&nbsp;</p>


With United States presidential elections just months away, Meta’s Oversight Board, on Monday (Feb 5) has determined a Facebook video wrongfully suggesting that United States President Joe Biden is a paedophile does not violate the company’s current rules, while also deeming the said rules as “incoherent”.

With United States presidential elections just months away, Meta’s Oversight Board, on Monday (Feb 5) has determined a Facebook video wrongfully suggesting that United States President Joe Biden is a paedophile does not violate the company’s current rules, while also deeming the said rules as “incoherent”. About the case The oversight board, which is funded by Meta but runs independently, made a decision about the edited video of the US president which shows him with his adult granddaughter, manipulated to falsely appear that he inappropriately touched her chest. The clip went viral last year prompting Facebook parent company Meta’s independent Supreme Court-style body of journalists, academics and politicians to open an investigation. ALSO READ | AI's double-edged sword: Technology making hacking easy for non-tech-savvy people, warn US officials The investigation is said to be the first of its kind into Meta’s “manipulated media” policies when the distorted version of a video during the 2022 midterm elections showing Biden placing an “I Voted” sticker on his adult granddaughter’s chest and kissing her on the cheek went viral. The clip was reported to the social media giant and its oversight board as hate speech. Meta’s current “manipulated media” bars certain types of doctored videos but only if they were produced by AI or make people appear to say words they never actually said. The hearing comes amid concerns about using AI to influence the outcome of the elections as 2024 is a historic year with more than two billion people across the world set to go to the polls in 50 countries, including the US and India. What did the board find? The board found that the platform was technically correct to leave the video online as in the US president’s case “the video was not manipulated using artificial intelligence nor did it depict Biden saying something he did not.” However, also the board said that the policy which allowed the clip to stay on the platform “is lacking in persuasive justification, is incoherent and confusing to users, and fails to clearly specify the harms it is seeking to prevent.” ALSO READ | US President Biden signs sweeping executive order to regulate AI It suggested that Meta update the rule to cover both audio and video content, regardless of whether AI was used. Additionally, it also urged the company to apply labels identifying the content as manipulated but stopped short of calling for the policy to apply to photographs. The board insisted that “non-AI-altered content is prevalent and not necessarily any less misleading” than content generated by AI tools. It also urged the company to reconsider the policy “quickly, given the number of elections in 2024.” In a statement, Meta said it was reviewing the ruling and would respond publicly within 60 days. (With inputs from agencies)

Meta urged to update rules which allowed altered video casting Biden as paedophile on Facebook

Meta was criticized Monday by a company-funded oversight board for its “incoherent” and “confusing” policies on manipulated media after an altered video of President Biden spread on Facebook.

Oversight Board rebukes Meta’s policies on deepfakes, amid AI fears

<p>In the lead-up to major elections worldwide, Mark Zuckerberg-owned Meta, the parent company of social media giant Facebook, is under increasing scrutiny after an oversight body declared an urgent need for updates to its policy on deepfake content.&nbsp;</p>

<p>The announcement, made on Monday (Feb 5), stems from a decision surrounding a manipulated video or deepfake featuring US President Joe Biden.</p>

<p>The controversial video, depicting Biden voting with his adult granddaughter, went viral last year after being manipulated to suggest inappropriate touching. Initially reported as hate speech, the incident was brought before Meta and later its independent oversight board.</p>

<p><strong>Also watch |&nbsp;Oversight Board rebukes Meta’s policies on deepfakes, amid AI fears</strong></p>

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<p>The oversight board, responsible for reviewing Meta's content moderation decisions, acknowledged that the platform was technically correct in allowing the video to remain online. It also raised concerns about the adequacy of the company's rules regarding manipulated content.</p>

<p>The board's warning comes at a crucial time, with fears of widespread misuse of artificial intelligence-powered applications for disinformation on social media platforms during a pivotal election year, not only in the United States but worldwide.</p>

<h2><strong>Meta's current content moderation policy 'incoherent'</strong></h2>

<p>Describing Meta's current policy as "incoherent" and "lacking persuasive justification," the board called the need for a focus on specific harms, particularly those related to electoral processes, rather than on the content creation process itself.</p>

<p>In response, Meta stated that it is "reviewing the Oversight Board's guidance" and committed to publicly addressing the recommendations within 60 days. The board clarified that, in the case of the Biden video, the rules were not violated because artificial intelligence was not employed, and the video did not depict Biden making false statements.</p>

<p>However, the oversight board underscored that non-AI-altered content, often referred to as "cheap fakes," remains prevalent and can be just as misleading.&nbsp;</p>

<p>It pointed out that altered audio content, which can be highly effective for deception, is not currently covered by Meta's policy.</p>

<p><em>(With inputs from agencies)</em></p>


In the lead-up to major elections worldwide, Mark Zuckerberg-owned Meta, the parent company of social media giant Facebook, is under increasing scrutiny after an oversight body declared an urgent need for updates to its policy on deepfake content.

In the lead-up to major elections worldwide, Mark Zuckerberg-owned Meta, the parent company of social media giant Facebook, is under increasing scrutiny after an oversight body declared an urgent need for updates to its policy on deepfake content. The announcement, made on Monday (Feb 5), stems from a decision surrounding a manipulated video or deepfake featuring US President Joe Biden. The controversial video, depicting Biden voting with his adult granddaughter, went viral last year after being manipulated to suggest inappropriate touching. Initially reported as hate speech, the incident was brought before Meta and later its independent oversight board. Also watch | Oversight Board rebukes Meta’s policies on deepfakes, amid AI fears × The oversight board, responsible for reviewing Meta's content moderation decisions, acknowledged that the platform was technically correct in allowing the video to remain online. It also raised concerns about the adequacy of the company's rules regarding manipulated content. The board's warning comes at a crucial time, with fears of widespread misuse of artificial intelligence-powered applications for disinformation on social media platforms during a pivotal election year, not only in the United States but worldwide. Meta's current content moderation policy 'incoherent' Describing Meta's current policy as "incoherent" and "lacking persuasive justification," the board called the need for a focus on specific harms, particularly those related to electoral processes, rather than on the content creation process itself. In response, Meta stated that it is "reviewing the Oversight Board's guidance" and committed to publicly addressing the recommendations within 60 days. The board clarified that, in the case of the Biden video, the rules were not violated because artificial intelligence was not employed, and the video did not depict Biden making false statements. However, the oversight board underscored that non-AI-altered content, often referred to as "cheap fakes," remains prevalent and can be just as misleading. It pointed out that altered audio content, which can be highly effective for deception, is not currently covered by Meta's policy. (With inputs from agencies)

Meta slammed for 'incoherent' deepfake policy after viral Biden video

Investors will eye meta shares later on Monday after the stock rose 20% on Friday to close at an all-time high of $474.99 per share. The surge marked the biggest single-day surge in U.S. Stock market history. CEO mark Zuckerburg is now the world's fourth richest, with a $28 billion gain. Meta's $197 billion gains exceeded the $190 billion jump recorded by apple and amazon in 2022. Watch to know more!

Meta's $197 billion surge is biggest in stock-market history

<p>Mark Zuckerberg, the co-founder of Facebook, now Meta, on Sunday (Feb 4th) celebrated 20 years of the social media platform.</p>

<p>Posting a throwback video on Meta-owned social media platform Instagram, Zuckerberg wrote: "20 years ago, I launched a thing. Along the way, lots of amazing people joined, and we built some more awesome things. We're still at it, and the best is yet to come."</p>

<h2><strong>The video</strong></h2>

<p>The 25-second video, technically called a reel, featured the Meta CEO from his younger days, back when Facebook was first launched on February 4, 2004.</p>

<p><strong>Also read |&nbsp;<a href="https://www.wionews.com/world/who-is-satoshi-nakamoto-war-begins-in-the-uk-court-to-decide-on-bitcoin-founders-identity-687233">Who is Satoshi Nakamoto? 'War' begins in the UK, court to decide on Bitcoin founder’s identity</a></strong></p>

<p>Zuckerberg's&nbsp;video is a montage&nbsp;of photos and videos from the 20-year journey. It starts with a message "I have a feeling this is going to go by really fast," before moving on to feature the pictures and clips to Aerosmith's "Dream On."</p>

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<p>The video, among others, features&nbsp;Edwardo Saverin, who helped found Facebook. Zuckerberg and Saverin had a major falling out and engaged in a major legal battle, which saw the ex-friends filing lawsuits against one another.</p>

<p>Also featured are Zuckerberg's wife, Priscilla Chan, and former Meta Chief Operating Officer Sheryl Sandberg, who stepped down in 2022. &nbsp;</p>

<p><strong>Also read |&nbsp;<a href="https://www.wionews.com/world/musks-illegal-drug-use-silence-of-board-and-money-ties-with-directors-what-wsjs-new-report-claims-687186">Musk’s ‘illegal drug use’, silence of board and money ties with directors: What WSJ’s new report claims</a></strong></p>

<p>He also posted several other posts to his account @zuck. One featured then-and-now pictures of him sitting at a desk working on computers. The pictures, which are 20 years apart, showcased widely different computer setups. One similarity the two shots shared is a variety of caffeine-laced drinks.</p>

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<h2><strong>Facebook: a short history</strong></h2>

<p>The platform was launched in 2004 and is credited with ushering in a new era of communication. It was Zuckerberg and co-founders Dustin Moskovitz and Eduardo Saverin.</p>

<p>Within months of its launch, Facebook hit one million active users. The following year, Facebook introduced the feature to add photos and also came up with news feed.</p>

<p>In 2009, it introduced the well-known 'like' button. By the end of the decade, the platform clocked 500 million active users.&nbsp;</p>

<p>However, with the emergence of other popular platforms like TikTok, and Instagram, it has now got left behind, with mostly the older generation using it. In February 2022, as per Business Standard, Facebook's total number of users declined to 1.9 billion for the first time.</p>


Mark Zuckerberg, the co-founder of Facebook, now Meta, on Sunday (Feb 4th) celebrated 20 years of the social media platform. Posting a throwback video on Meta-owned social media platform Instagram, Zuckerberg wrote: "20 years ago, I launched a thing.

Mark Zuckerberg, the co-founder of Facebook, now Meta, on Sunday (Feb 4th) celebrated 20 years of the social media platform. Posting a throwback video on Meta-owned social media platform Instagram, Zuckerberg wrote: "20 years ago, I launched a thing. Along the way, lots of amazing people joined, and we built some more awesome things. We're still at it, and the best is yet to come." The video The 25-second video, technically called a reel, featured the Meta CEO from his younger days, back when Facebook was first launched on February 4, 2004. Also read | Who is Satoshi Nakamoto? 'War' begins in the UK, court to decide on Bitcoin founder’s identity Zuckerberg's video is a montage of photos and videos from the 20-year journey. It starts with a message "I have a feeling this is going to go by really fast," before moving on to feature the pictures and clips to Aerosmith's "Dream On." View this post on Instagram A post shared by Mark Zuckerberg (@zuck) × The video, among others, features Edwardo Saverin, who helped found Facebook. Zuckerberg and Saverin had a major falling out and engaged in a major legal battle, which saw the ex-friends filing lawsuits against one another. Also featured are Zuckerberg's wife, Priscilla Chan, and former Meta Chief Operating Officer Sheryl Sandberg, who stepped down in 2022. Also read | Musk’s ‘illegal drug use’, silence of board and money ties with directors: What WSJ’s new report claims He also posted several other posts to his account @zuck. One featured then-and-now pictures of him sitting at a desk working on computers. The pictures, which are 20 years apart, showcased widely different computer setups. One similarity the two shots shared is a variety of caffeine-laced drinks. View this post on Instagram A post shared by Mark Zuckerberg (@zuck) × Facebook: a short history The platform was launched in 2004 and is credited with ushering in a new era of communication. It was Zuckerberg and co-founders Dustin Moskovitz and Eduardo Saverin. Within months of its launch, Facebook hit one million active users. The following year, Facebook introduced the feature to add photos and also came up with news feed. In 2009, it introduced the well-known 'like' button. By the end of the decade, the platform clocked 500 million active users. However, with the emergence of other popular platforms like TikTok, and Instagram, it has now got left behind, with mostly the older generation using it. In February 2022, as per Business Standard, Facebook's total number of users declined to 1.9 billion for the first time.

‘The best is yet to come’: Mark Zuckerberg celebrates 20 years of Facebook

<p class="MsoNormal"><span lang="EN-GB" style="mso-ansi-language:EN-GB">In a historic turn of events on Friday, Meta Platforms, the parent company of Facebook, experienced an unprecedented surge, adding a staggering $196 billion in stock market value. <o:p></o:p></span></p>

<p class="MsoNormal"><span lang="EN-GB" style="mso-ansi-language:EN-GB">This is based on a Reuters report.<o:p></o:p></span></p>

<p class="MsoNormal"><span lang="EN-GB" style="mso-ansi-language:EN-GB">This remarkable one-day gain stands as the largest ever recorded by any company in the history of Wall Street. <o:p></o:p></span></p>

<p class="MsoNormal"><span lang="EN-GB" style="mso-ansi-language:EN-GB">Meta's stock, listed as META.O, skyrocketed by 20.3 per cent, marking its most significant one-day percentage increase in a year and the third-largest since its debut in 2012. <o:p></o:p></span></p>

<p class="MsoNormal"><span lang="EN-GB" style="mso-ansi-language:EN-GB">The company's stock market value has now reached $1.22 trillion, solidifying its position among the tech industry's heavyweights.<o:p></o:p></span></p>

<p class="MsoNormal"><span lang="EN-GB" style="mso-ansi-language:EN-GB">Days before Facebook's 20th anniversary, Meta declared its first-ever dividend and announced a $50 billion share repurchase authorisation. <o:p></o:p></span></p>

<p class="MsoNormal"><span lang="EN-GB" style="mso-ansi-language:EN-GB">This strategic move contributed to the surge, as investors responded positively to the company's commitment to shareholder value. <o:p></o:p></span></p>

<p class="MsoNormal"><span lang="EN-GB" style="mso-ansi-language:EN-GB">Reuters cited investment analyst Dan Coatsworth from AJ Bell, who said, "Paying a dividend suggests the company wants to reboot its reputation and be taken more seriously. But ultimately the amount being paid is only a token gesture."<o:p></o:p></span></p>

<p class="MsoNormal"><span lang="EN-GB" style="mso-ansi-language:EN-GB">Meta's increase in market capitalisation surpassed the previous record set by Amazon in 2022. Amazon saw a surge of $190 billion in market value after a stellar quarterly report. <o:p></o:p></span></p>

<p class="MsoNormal"><span lang="EN-GB" style="mso-ansi-language:EN-GB">This surge comes after Meta experienced a historic loss of over $200 billion, the largest in US stock market history, just a day before, following a bleak forecast. <o:p></o:p></span></p>

<p class="MsoNormal"><span lang="EN-GB" style="mso-ansi-language:EN-GB">Meta's recent decision to provide dividends signals a considerable payout for its CEO, Mark Zuckerberg, potentially amounting to about $175 million every quarter.<o:p></o:p></span></p>

<p class="MsoNormal"><span lang="EN-GB" style="mso-ansi-language:EN-GB">The surge in Meta's stock is not merely a reflection of financial manoeuvres but also an endorsement of the company's performance. <o:p></o:p></span></p>

<p class="MsoNormal"><span lang="EN-GB" style="mso-ansi-language:EN-GB">The world's largest social media platform reported strong ad sales and a rebound in user growth during its fourth-quarter results, leading to a 25 per cent increase in revenue. <o:p></o:p></span></p>

<p class="MsoNormal"><span lang="EN-GB" style="mso-ansi-language:EN-GB">Meta's efficient cost management, including a significant workforce reduction of over 21,000 jobs since late 2022, contributed to tripling its net income to an impressive $14.02 billion. <o:p></o:p></span></p>

<p class="MsoNormal"><span lang="EN-GB" style="mso-ansi-language:EN-GB">Jasmine Enberg, a principal analyst at Insider Intelligence, told Reuters, "The 'Year of Efficiency' has paid off, with both headcount and costs dropping, and Meta exceeding our expectations for full-year 2023 ad revenue."<o:p></o:p></span></p>

<p class="MsoNormal"><span lang="EN-GB" style="mso-ansi-language:EN-GB">Despite Meta's dividend being relatively small compared to other companies, it could attract a broader range of investors, particularly those focused on dividends. <o:p></o:p></span></p>

<p class="MsoNormal"><span lang="EN-GB" style="mso-ansi-language:EN-GB">Brian Jacobsen, Chief Economist at Annex Wealth Management, highlighted the potential impact, stating, "This can start attracting investors who really do look for dividends and more steady income."<o:p></o:p></span></p>

<p class="MsoNormal"><span lang="EN-GB" style="mso-ansi-language:EN-GB">Meta's foray into dividend distribution could make its stock more appealing to investors, especially in the realm of Exchange Traded Funds (ETFs). <o:p></o:p></span></p>

<p class="MsoNormal"><span lang="EN-GB" style="mso-ansi-language:EN-GB">ETFs focused on US dividend payers currently hold assets exceeding $400 billion, representing just over 5 per cent of the entire domestic ETF universe. <o:p></o:p></span></p>

<p class="MsoNormal"><i style="mso-bidi-font-style:normal"><span lang="EN-GB" style="mso-ansi-language:EN-GB">(With inputs from Reuters)</span></i><span lang="EN-GB" style="mso-ansi-language:EN-GB"><o:p></o:p></span></p>


In a historic turn of events on Friday, Meta Platforms, the parent company of Facebook, experienced an unprecedented surge, adding a staggering $196 billion in stock market value.

In a historic turn of events on Friday, Meta Platforms, the parent company of Facebook, experienced an unprecedented surge, adding a staggering $196 billion in stock market value. This is based on a Reuters report. This remarkable one-day gain stands as the largest ever recorded by any company in the history of Wall Street. Meta's stock, listed as META.O, skyrocketed by 20.3 per cent, marking its most significant one-day percentage increase in a year and the third-largest since its debut in 2012. The company's stock market value has now reached $1.22 trillion, solidifying its position among the tech industry's heavyweights. Days before Facebook's 20th anniversary, Meta declared its first-ever dividend and announced a $50 billion share repurchase authorisation. This strategic move contributed to the surge, as investors responded positively to the company's commitment to shareholder value. Reuters cited investment analyst Dan Coatsworth from AJ Bell, who said, "Paying a dividend suggests the company wants to reboot its reputation and be taken more seriously. But ultimately the amount being paid is only a token gesture." Meta's increase in market capitalisation surpassed the previous record set by Amazon in 2022. Amazon saw a surge of $190 billion in market value after a stellar quarterly report. This surge comes after Meta experienced a historic loss of over $200 billion, the largest in US stock market history, just a day before, following a bleak forecast. Meta's recent decision to provide dividends signals a considerable payout for its CEO, Mark Zuckerberg, potentially amounting to about $175 million every quarter. The surge in Meta's stock is not merely a reflection of financial manoeuvres but also an endorsement of the company's performance. The world's largest social media platform reported strong ad sales and a rebound in user growth during its fourth-quarter results, leading to a 25 per cent increase in revenue. Meta's efficient cost management, including a significant workforce reduction of over 21,000 jobs since late 2022, contributed to tripling its net income to an impressive $14.02 billion. Jasmine Enberg, a principal analyst at Insider Intelligence, told Reuters, "The 'Year of Efficiency' has paid off, with both headcount and costs dropping, and Meta exceeding our expectations for full-year 2023 ad revenue." Despite Meta's dividend being relatively small compared to other companies, it could attract a broader range of investors, particularly those focused on dividends. Brian Jacobsen, Chief Economist at Annex Wealth Management, highlighted the potential impact, stating, "This can start attracting investors who really do look for dividends and more steady income." Meta's foray into dividend distribution could make its stock more appealing to investors, especially in the realm of Exchange Traded Funds (ETFs). ETFs focused on US dividend payers currently hold assets exceeding $400 billion, representing just over 5 per cent of the entire domestic ETF universe. (With inputs from Reuters)

Meta Platforms shatters records with a $196 bn surge in stock market value

<p>February 4, 2024 is the day when Facebook becomes exactly a two-decade-old company. It was 20 years back when Mark Zuckerberg created the social media giant, a watershed moment for the digital space. Facebook changed our interactions forever as humanity witnessed the first wave of social networking and the ensuing development of online communities. Today, on Facebook’s birthday, it becomes imperative to highlight the 20-year-long journey of the social media behemoth.</p>

<h2><strong>2004: The year Zuckerberg conceived Facebook</strong></h2>

<p>Before Facebook, let’s talk about Orkut. The social media company, named after its creator, Google employee Orkut Büyükkökten, came to life on January 22, 2004. Initially, users could become fans of their friends and rate them as Trustworthy, Cool, or Sext on a scale of 1 to 3. Orkut allowed access to everyone's profile, except those on a designated 'ignore list.'</p>

<p>By 2008, it became one of India's most visited websites, establishing itself as the premier social network. By 2014, traffic from India was the platform's second-highest globally, trailing only Brazil.</p>

<p>Less than two weeks after Orkut's debut, a group of Harvard University students launched what would become the most influential social media network of all time. A "face book" traditionally referred to a student directory in American universities featuring photos and basic information, initially offline until 2003.</p>

<p><strong>Watch:&nbsp;Facebook CEO Mark Zuckerberg apologises to families of exploited children</strong></p>

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<p>During this time, Harvard student Mark Zuckerberg told the Harvard Crimson, the oldest continuously published daily college newspaper in the US, that he could create a 'universal face book' within Harvard in a week. Zuckerberg and fellow Harvard student Eduardo Saverin each invested $1,000, and on February 4, 2004, they launched ‘TheFacebook’.</p>

<h2><strong>And then Facebook arrived…</strong></h2>

<p>Facebook quickly expanded to other Ivy League universities and gradually to colleges and universities across the United States. By September 2005, it opened its doors to high school students, and later that year, it became available to anyone over the age of 13 with a valid email address. 2005 was the year when TheFacebook became Facebook.</p>

<p><strong>Also read:&nbsp;<a data-jsarwt="1" data-usg="AOvVaw2sN3qk2AsQvBXG8H1aGQ1G" data-ved="2ahUKEwjLoPWcnJKEAxVM2jgGHY8HC7kQxfQBKAB6BAgNEAE" href="https://www.wionews.com/world/us-state-says-children-on-instagram-facebook-were-frequent-targets-of-sexual-harassment-report-681614" jsname="YKoRaf">US state says children on Instagram, Facebook are often targets of sexual harassment: Report</a></strong></p>

<p>The company’s user base grew exponentially. By 2005, Facebook crossed the 6 million mark and soared beyond 300 million members by the end of the decade.</p>

<h2><strong>How has Facebook evolved? </strong></h2>

<p>Facebook literally dominated the digital, social networking space through the personalisation of content during this period. Facebook introduced features such as the News Feed in 2006, which personalised content for users and the Like button in 2009, which became a fundamental aspect of the platform's interaction model.</p>

<p>In 2007, Facebook further evolved, by enabling monetisation on its platform and embracing third-party developers. In 2007, Facebook launched the Facebook Platform, allowing third-party developers to create applications that could be integrated into the platform. This move contributed to the rapid expansion of the Facebook ecosystem, with thousands of apps being developed and shared on the platform.</p>

<p>Facebook then began experimenting with advertising and monetisation strategies, introducing targeted advertising based on user data and behaviour. The introduction of Facebook Ads in 2007 marked the beginning of Facebook's journey towards becoming a major player in the digital advertising space.</p>

<p>Facebook truly evolved quite strategically, which seemingly resonated with its users worldwide. Facebook strategically acquired companies and integrated new features to enhance user experience and functionality. Key acquisitions during this period include the purchase of photo-sharing service Instagram in 2012 and messaging app WhatsApp in 2014.</p>

<h2><strong>2018: When the privacy scandal hit Facebook</strong></h2>

<p>In 2018, Facebook announced the suspension of Strategic Communication Laboratories (SCL) and its subsidiary, Cambridge Analytica, known for providing digital voter outreach services to the Donald Trump presidential campaign.</p>

<p>According to a statement from Facebook's vice president and deputy general counsel, Cambridge Analytica obtained user data through a third-party app, violating the platform's policies safeguarding user information. The data was initially collected by Aleksandr Kogan, a Russian-American psychology professor, who developed a Facebook app and enlisted around 270,000 volunteers to participate in a personality quiz, consenting to share their profile information with Kogan for academic purposes.</p>

<p>Subsequently, Kogan transferred the data to Cambridge Analytica. Upon discovering the violation in 2015, Facebook removed the app and requested Cambridge Analytica to confirm the deletion of the collected data.</p>

<p>On March 17, 2018, a joint investigation by the New York Times and the Observer of London disclosed that Cambridge Analytica acquired data from 50 million American Facebook users through Kogan's app. The investigation revealed that Cambridge Analytica funded the app's development and utilised the gathered information to craft targeted political advertisements for the Trump campaign. Contrary to Facebook's request in 2015, the newspapers reported that at least some of the data remained undeleted.</p>

<p>Later in 2018, the New York Times reported that Facebook offered more of its users' data to companies than it has admitted.</p>

<h2><strong>October 2021: Facebook becomes Meta</strong></h2>

<p>Zuckerberg announced Facebook was changing its corporate name to "Meta," as a rebranding move amid wide-ranging scrutiny of its various platforms after a whistleblower leaked hundreds of internal documents.</p>

<p>Further, in March 2022, Meta was sued by Washington, DC Attorney General Karl Racine for allegedly misleading the public on the company's handling of privacy and personal data in connection with the Cambridge Analytica scandal.</p>

<p>Some might argue Facebook’s best days have long gone already, but Meta’s popularity is still unmatched in digital space, with Instagram hitting 2.4 billion users (up from 110 million in 2013) and Facebook crossing the 3 billion threshold by 2023.</p>


February 4, 2024 is the day when Facebook becomes exactly a two-decade-old company. It was 20 years back when Mark Zuckerberg created the social media giant, a watershed moment for the digital space.

February 4, 2024 is the day when Facebook becomes exactly a two-decade-old company. It was 20 years back when Mark Zuckerberg created the social media giant, a watershed moment for the digital space. Facebook changed our interactions forever as humanity witnessed the first wave of social networking and the ensuing development of online communities. Today, on Facebook’s birthday, it becomes imperative to highlight the 20-year-long journey of the social media behemoth. 2004: The year Zuckerberg conceived Facebook Before Facebook, let’s talk about Orkut. The social media company, named after its creator, Google employee Orkut Büyükkökten, came to life on January 22, 2004. Initially, users could become fans of their friends and rate them as Trustworthy, Cool, or Sext on a scale of 1 to 3. Orkut allowed access to everyone's profile, except those on a designated 'ignore list.' By 2008, it became one of India's most visited websites, establishing itself as the premier social network. By 2014, traffic from India was the platform's second-highest globally, trailing only Brazil. Less than two weeks after Orkut's debut, a group of Harvard University students launched what would become the most influential social media network of all time. A "face book" traditionally referred to a student directory in American universities featuring photos and basic information, initially offline until 2003. Watch: Facebook CEO Mark Zuckerberg apologises to families of exploited children × During this time, Harvard student Mark Zuckerberg told the Harvard Crimson, the oldest continuously published daily college newspaper in the US, that he could create a 'universal face book' within Harvard in a week. Zuckerberg and fellow Harvard student Eduardo Saverin each invested $1,000, and on February 4, 2004, they launched ‘TheFacebook’. And then Facebook arrived… Facebook quickly expanded to other Ivy League universities and gradually to colleges and universities across the United States. By September 2005, it opened its doors to high school students, and later that year, it became available to anyone over the age of 13 with a valid email address. 2005 was the year when TheFacebook became Facebook. Also read: US state says children on Instagram, Facebook are often targets of sexual harassment: Report The company’s user base grew exponentially. By 2005, Facebook crossed the 6 million mark and soared beyond 300 million members by the end of the decade. How has Facebook evolved? Facebook literally dominated the digital, social networking space through the personalisation of content during this period. Facebook introduced features such as the News Feed in 2006, which personalised content for users and the Like button in 2009, which became a fundamental aspect of the platform's interaction model. In 2007, Facebook further evolved, by enabling monetisation on its platform and embracing third-party developers. In 2007, Facebook launched the Facebook Platform, allowing third-party developers to create applications that could be integrated into the platform. This move contributed to the rapid expansion of the Facebook ecosystem, with thousands of apps being developed and shared on the platform. Facebook then began experimenting with advertising and monetisation strategies, introducing targeted advertising based on user data and behaviour. The introduction of Facebook Ads in 2007 marked the beginning of Facebook's journey towards becoming a major player in the digital advertising space. Facebook truly evolved quite strategically, which seemingly resonated with its users worldwide. Facebook strategically acquired companies and integrated new features to enhance user experience and functionality. Key acquisitions during this period include the purchase of photo-sharing service Instagram in 2012 and messaging app WhatsApp in 2014. 2018: When the privacy scandal hit Facebook In 2018, Facebook announced the suspension of Strategic Communication Laboratories (SCL) and its subsidiary, Cambridge Analytica, known for providing digital voter outreach services to the Donald Trump presidential campaign. According to a statement from Facebook's vice president and deputy general counsel, Cambridge Analytica obtained user data through a third-party app, violating the platform's policies safeguarding user information. The data was initially collected by Aleksandr Kogan, a Russian-American psychology professor, who developed a Facebook app and enlisted around 270,000 volunteers to participate in a personality quiz, consenting to share their profile information with Kogan for academic purposes. Subsequently, Kogan transferred the data to Cambridge Analytica. Upon discovering the violation in 2015, Facebook removed the app and requested Cambridge Analytica to confirm the deletion of the collected data. On March 17, 2018, a joint investigation by the New York Times and the Observer of London disclosed that Cambridge Analytica acquired data from 50 million American Facebook users through Kogan's app. The investigation revealed that Cambridge Analytica funded the app's development and utilised the gathered information to craft targeted political advertisements for the Trump campaign. Contrary to Facebook's request in 2015, the newspapers reported that at least some of the data remained undeleted. Later in 2018, the New York Times reported that Facebook offered more of its users' data to companies than it has admitted. October 2021: Facebook becomes Meta Zuckerberg announced Facebook was changing its corporate name to "Meta," as a rebranding move amid wide-ranging scrutiny of its various platforms after a whistleblower leaked hundreds of internal documents. Further, in March 2022, Meta was sued by Washington, DC Attorney General Karl Racine for allegedly misleading the public on the company's handling of privacy and personal data in connection with the Cambridge Analytica scandal. Some might argue Facebook’s best days have long gone already, but Meta’s popularity is still unmatched in digital space, with Instagram hitting 2.4 billion users (up from 110 million in 2013) and Facebook crossing the 3 billion threshold by 2023.

Explained | From TheFacebook to Meta, 20-year-long controversial journey of social media giant

Meta, experienced a remarkable surge, adding over $200 billion in stock market value in response to its first dividend declaration and robust financial results. The stock price witnessed a staggering 21.7% increase, marking one of the biggest one-day percentages jumps in a year. Now, this unprecedented performance can be attributed to several key factors.

Your reels helped Meta earn $200 bn

A US lawmaker has written to Meta's billionaire founder Mark Zuckerberg, urging him to donate 10 per cent of his net worth to a fund, that will compensate victims harmed by the social media platform.

Josh Hawley asks Meta founder to set up compensation fund

US lawmaker Josh Hawley seeks compensation fund. Hawley wrote to Meta founder seeking fund for victims of online child abuse. 'Fund to give 'some measure of accountability & justice,' said Josh Hawley. Watch to know more!

US Lawmaker seeks fund for victims of online Child Abuse, writes to Mark Zuckerberg

Meta platforms, the parent company of Facebook, has issued its first-ever dividend. The tech giant's stock witnessed a 14% surge after hours, propelling its market valuation by over $140 billion. Watch to know more!

Meta issues first dividend on Facebook's 20th anniversary

<p class="MsoNormal"><span lang="EN-GB">Meta Platforms, the parent company of social media giant Facebook, has made a significant move just days ahead of Facebook's 20th anniversary. According to Reuters, the tech behemoth issued its first-ever dividend and reported impressive financials, surpassing revenue and profit expectations driven by robust holiday ad sales. <o:p></o:p></span></p>

<p class="MsoNormal"><span lang="EN-GB">Following the announcement, shares of Meta soared over 14 per cent after hours, propelling the company's market valuation up by more than $140 billion. This surge, part of Meta's long recovery, signifies a major milestone for the tech sector.<o:p></o:p></span></p>

<p class="MsoNormal"><span lang="EN-GB">Meta's dividend declaration, a historic move for a tech giant, comes at 50 cents per share, signalling a departure from the traditional model in the industry. The company also authorised an additional $50 billion in share repurchases. <o:p></o:p></span></p>

<p class="MsoNormal"><span lang="EN-GB">This makes Meta the first among its generation of internet steamrollers to issue a dividend, breaking new ground in a sector that has long been dominated by a handful of companies. Founded in 2004, Meta has evolved into the world's largest social media company, connecting over 3 billion people and revolutionising digital interactions.<o:p></o:p></span></p>

<p class="MsoNormal"><span lang="EN-GB">Despite its impressive financial achievements, Meta has not been immune to controversies. Accusations of neglecting user privacy and enabling incitements to violence have plagued the company's growth trajectory. Just a day before the financial results, Meta's CEO Mark Zuckerberg testified before the US Senate regarding child safety online, offering apologies to parents of children who experienced sexual abuses. <o:p></o:p></span></p>

<p class="MsoNormal"><span lang="EN-GB">In response to the ups and downs, Zuckerberg shared a reflective message on Thursday. "You're never as good as they say when you're up, or as bad as they say when you're down. Just keep building and doing good work over long periods of time,” Reuters quoted him as saying.<o:p></o:p></span></p>

<p class="MsoNormal"><span lang="EN-GB">The financial results for Meta's fourth quarter demonstrated an impressive performance. Revenue rose by 25 per cent to $40.1 billion, surpassing analyst expectations. Net income surged over 200 per cent to $14 billion, or $5.33 per share, exceeding expectations. <o:p></o:p></span></p>

<p class="MsoNormal"><span lang="EN-GB">The recovery of Meta's shares over the past year, after a meltdown in 2022, has been attributed to factors like increased investor excitement about artificial intelligence, rebounding user growth, and digital ad sales. The company's strategic austerity measures, involving shedding more than 21,000 employees, have also played a role.<o:p></o:p></span></p>

<p class="MsoNormal"><span lang="EN-GB">Looking forward, Meta forecasts a first-quarter revenue of $34.5 billion to $37 billion, surpassing Wall Street expectations. The company anticipates total expenses for the full year 2024 to remain unchanged at $94 billion to $99 billion. <o:p></o:p></span></p>

<p class="MsoNormal"><span lang="EN-GB">Meta's commitment to investments in the metaverse and artificial intelligence remains unwavering. Despite operating losses in its metaverse-oriented Reality Labs unit, the company continues to aggressively invest in augmented and virtual reality. Executives highlight the success of the latest version of Ray-Ban smart glasses, equipped with a built-in AI assistant, signalling potential shifts in consumer preferences.</span><span lang="EN-GB" style="font-size:8.0pt;line-height:107%;font-family:&quot;Arial&quot;,sans-serif;
mso-fareast-font-family:&quot;Times New Roman&quot;;display:none;mso-hide:all;mso-font-kerning:
0pt;mso-ligatures:none;mso-fareast-language:EN-GB">Bottom of Form</span><span lang="EN-GB"><o:p></o:p></span></p>

<p class="MsoNormal"><i><span lang="EN-GB">(With inputs from Reuters)<o:p></o:p></span></i></p>


Meta Platforms, the parent company of social media giant Facebook, has made a significant move just days ahead of Facebook's 20th anniversary. According to Reuters, the tech behemoth issued its first-ever dividend and reported impressive financials, surpassing revenue and profit expectations driven by robust holiday ad sales.

Meta Platforms, the parent company of social media giant Facebook, has made a significant move just days ahead of Facebook's 20th anniversary. According to Reuters, the tech behemoth issued its first-ever dividend and reported impressive financials, surpassing revenue and profit expectations driven by robust holiday ad sales. Following the announcement, shares of Meta soared over 14 per cent after hours, propelling the company's market valuation up by more than $140 billion. This surge, part of Meta's long recovery, signifies a major milestone for the tech sector. Meta's dividend declaration, a historic move for a tech giant, comes at 50 cents per share, signalling a departure from the traditional model in the industry. The company also authorised an additional $50 billion in share repurchases. This makes Meta the first among its generation of internet steamrollers to issue a dividend, breaking new ground in a sector that has long been dominated by a handful of companies. Founded in 2004, Meta has evolved into the world's largest social media company, connecting over 3 billion people and revolutionising digital interactions. Despite its impressive financial achievements, Meta has not been immune to controversies. Accusations of neglecting user privacy and enabling incitements to violence have plagued the company's growth trajectory. Just a day before the financial results, Meta's CEO Mark Zuckerberg testified before the US Senate regarding child safety online, offering apologies to parents of children who experienced sexual abuses. In response to the ups and downs, Zuckerberg shared a reflective message on Thursday. "You're never as good as they say when you're up, or as bad as they say when you're down. Just keep building and doing good work over long periods of time,” Reuters quoted him as saying. The financial results for Meta's fourth quarter demonstrated an impressive performance. Revenue rose by 25 per cent to $40.1 billion, surpassing analyst expectations. Net income surged over 200 per cent to $14 billion, or $5.33 per share, exceeding expectations. The recovery of Meta's shares over the past year, after a meltdown in 2022, has been attributed to factors like increased investor excitement about artificial intelligence, rebounding user growth, and digital ad sales. The company's strategic austerity measures, involving shedding more than 21,000 employees, have also played a role. Looking forward, Meta forecasts a first-quarter revenue of $34.5 billion to $37 billion, surpassing Wall Street expectations. The company anticipates total expenses for the full year 2024 to remain unchanged at $94 billion to $99 billion. Meta's commitment to investments in the metaverse and artificial intelligence remains unwavering. Despite operating losses in its metaverse-oriented Reality Labs unit, the company continues to aggressively invest in augmented and virtual reality. Executives highlight the success of the latest version of Ray-Ban smart glasses, equipped with a built-in AI assistant, signalling potential shifts in consumer preferences.Bottom of Form (With inputs from Reuters)

Meta Platforms report first dividend while shares soar

Meta CEO Mark Zuckerberg along with the bosses of TikTok, X, Snap and Discord was grilled by the U.S. Senate. The social media bosses face allegations of not taking appropriate actions against child sex abuse and exploitation on their platforms.

Gravitas | Meta CEO grilled: The sorry state of Mark Zuckerberg

<p>Mark Zuckerberg, the Chief Executive Officer of Meta Platforms Inc, the parent company overseeing social media giants Facebook, Instagram, and WhatsApp, is poised to receive an annual dividend of $700 million. The announcement follows Meta's disclosure on Thursday that it would issue its first-ever quarterly dividend to investors, in a significant development since Facebook's Initial Public Offering in 2012.</p>

<p>The development comes a day after Zuckerberg faced one of the most significant moments of public scrutiny during a US Senate judiciary committee hearing on Wednesday (Feb 1), where Zuckerberg and other tech executives were questioned about the impact of their platforms on young users.</p>

<p><strong>Also read |&nbsp;<a href="https://www.wionews.com/world/no-one-should-go-through-zuckerberg-issues-apology-over-harm-caused-to-children-due-to-social-media-685688">Watch: Meta's Zuckerberg faces accusation of having 'blood on his hands', apologises to families</a></strong></p>

<p>During the hearing, lawmakers discussed potential legislation that could remove legal immunity for content posted on Meta and similar platforms. This follows a massive lawsuit filed by the attorneys general of 41 states, criticising Meta's impact on young users.&nbsp;</p>

<h2><strong>How Meta is in position to give $700mn to Zuckerberg?</strong></h2>

<p>Despite Meta's decision to cut its workforce by 22 per cent, reducing the total headcount to approximately 19,000, the company reported $40 billion in revenues for the final quarter of the previous year, surpassing Wall Street expectations.&nbsp;</p>

<p>Quarterly profits tripled to $14 billion, driven by a rebound in advertising sales. Meta also launched a substantial $50 billion share buyback program.</p>

<p><strong>Also watch |&nbsp;Gravitas | Meta CEO grilled: The sorry state of Mark Zuckerberg</strong></p>

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<p>Zuckerberg, also said that Meta would pay its first dividend as a public company at 50 cents per share. He&nbsp;announced that this $1.25 billion distribution to investors would be the inaugural installment of regular payouts.&nbsp;</p>

<p>With approximately 350 million shares in his possession, Zuckerberg stands to accumulate around $700 million in dividends over the first year of this new policy.</p>

<h2><strong>Meta turns 20 in Feb 2024</strong></h2>

<p>The 39-year-old CEO, whose total compensation in 2022 amounted to $27 million, made this financial revelation as Meta commemorates its 20th anniversary this month.&nbsp;</p>

<p><em>(With inputs from agencies)</em></p>


Mark Zuckerberg, the Chief Executive Officer of Meta Platforms Inc, the parent company overseeing social media giants Facebook, Instagram, and WhatsApp, is poised to receive an annual dividend of $700 million.

Mark Zuckerberg, the Chief Executive Officer of Meta Platforms Inc, the parent company overseeing social media giants Facebook, Instagram, and WhatsApp, is poised to receive an annual dividend of $700 million. The announcement follows Meta's disclosure on Thursday that it would issue its first-ever quarterly dividend to investors, in a significant development since Facebook's Initial Public Offering in 2012. The development comes a day after Zuckerberg faced one of the most significant moments of public scrutiny during a US Senate judiciary committee hearing on Wednesday (Feb 1), where Zuckerberg and other tech executives were questioned about the impact of their platforms on young users. Also read | Watch: Meta's Zuckerberg faces accusation of having 'blood on his hands', apologises to families During the hearing, lawmakers discussed potential legislation that could remove legal immunity for content posted on Meta and similar platforms. This follows a massive lawsuit filed by the attorneys general of 41 states, criticising Meta's impact on young users. How Meta is in position to give $700mn to Zuckerberg? Despite Meta's decision to cut its workforce by 22 per cent, reducing the total headcount to approximately 19,000, the company reported $40 billion in revenues for the final quarter of the previous year, surpassing Wall Street expectations. Quarterly profits tripled to $14 billion, driven by a rebound in advertising sales. Meta also launched a substantial $50 billion share buyback program. Also watch | Gravitas | Meta CEO grilled: The sorry state of Mark Zuckerberg × Zuckerberg, also said that Meta would pay its first dividend as a public company at 50 cents per share. He announced that this $1.25 billion distribution to investors would be the inaugural installment of regular payouts. With approximately 350 million shares in his possession, Zuckerberg stands to accumulate around $700 million in dividends over the first year of this new policy. Meta turns 20 in Feb 2024 The 39-year-old CEO, whose total compensation in 2022 amounted to $27 million, made this financial revelation as Meta commemorates its 20th anniversary this month. (With inputs from agencies)

Zuckerberg to get $700mn in Meta dividends day after apologising to parents over children safety

CEOs of Meta, X, TikTok, Snap, and Discord face tough questions on combating online child exploitation at Senate hearing.