Meta Platforms, Inc., doing business as Meta, and formerly named Facebook, Inc., and TheFacebook, Inc., is an American multinational technology conglomerate based in Menlo Park, California. The company owns and operates Facebook, Instagram, Threads, and WhatsApp, among other products and services. Advertising accounts for 97.8 percent of its revenue 2023. Meta ranks among the largest American information technology companies, alongside other Big Five corporations Alphabet, Amazon, Apple, and Microsoft. The company was ranked #31 on the Forbes Global 2000 ranking in 2023. In 2022, Meta was the company with the third-highest expenditure on research and development worldwide, with R&D expenditure amounting to US$35.3 billion. Meta has also acquired Oculus, Mapillary, CTRL-Labs, and a 9.99% stake in Jio Platforms; the company additionally endeavored into non-VR hardware, such as the discontinued Meta Portal smart displays line and partners with Luxottica through the Ray-Ban Stories series of smartglasses. Wikipedia