Meta's acquisition strategy for Instagram and WhatsApp led to a 5-year-long antitrust lawsuit

Meta Platforms Inc., which owns both Facebook and Instagram, is the largest social media company in the world.

By 2022, Meta was betting strongly on a metaverse strategy for its products

Moving beyond the controversies over fueling misinformation, division, and harm worldwide, Mark Zuckerberg expressed optimism about technology's role in connecting people. Meta's multibillion-dollar investments in integrative AR and VR technologies have further evolved its founder's vision.

The majority of Meta's revenue comes from advertising

Since introducing Facebook Ads in 2007, ads have become the main way Meta makes money and keeps the social media platforms free for users. Meta's targeted ad program allows businesses to set a maximum advertising budget and be charged only for the actual number of impressions an ad receives. In 2025, $196.175B of Meta's $200.966B annual revenue came from advertising.

Mark Zuckerberg views Meta as a technology company—not a social media company

Despite Meta's core products being social media apps, Zuckerberg is adamant that Meta is a technology company that has built social media apps, but can build and is comfortable building other technologies—like AI-integrated glasses and virtual reality labs.

Meta disclosed Mark Zuckerberg's interest in martial arts as an investment risk

During the pandemic, Zuckerberg began practicing Brazilian jiu-jitsu and even won gold and silver medals at his first tournament in 2023. His interest in martial arts and water sports, like wakesurfing and hydrofoiling, prompted the company to disclose those hobbies as risks for potential investors, given they pose a threat to Zuckerberg's health and he retains a significant amount of control over Meta.

Watch the unveiling of Meta's Quest 3S mixed reality headset

Meta's social apps like Facebook and Instagram are the most high-profile part of its business, but the company has sought building out a hardware line of peripherals like the Quest headset, which combines virtual and augmented reality.

Facebook's internal documents show that though the company publicly plays down Instagram's harms, its own research found that Instagram has promoted mental health issues for teens.

In 2020, the US DOJ sued Google for unlawful monopolization of the search engine market

The US Department of Justice and numerous states accused Google of making exclusionary agreements with Android phone manufacturers to make its search engine the default on those devices, preventing competitors from gaining market share.

One Facebook investor turned $500K into $1B

Peter Thiel was Facebook's first big investor. In 2004, he invested $500K into the social network, long before the company owned Instagram or renamed itself "Meta." In 2012, when he sold off most of his stake, he turned that initial $500K investment into more than $1B in cash.

In 2018, Tencent's market capitalization hit $580B, surpassing Facebook (now Meta) for the first time.

Mark Zuckerberg has nearly exclusive decision-making authority in Meta

Meta has a dual-class stock structure, meaning there are two types of stock that have different voting rights. Zuckerberg owns 90% of the company's Class B stock, which is allotted 10 votes per share, whereas Class A shareholders get one vote per share. He's also the CEO and the chairman of the board, meaning Zuckerberg has majority control over the company. (Some users may experience a paywall.)

Randi Zuckerberg, Mark's sister, was Meta's first marketing director

Randi is two years older than Mark and also attended Harvard before working in advertising. Before joining Facebook, Randi worked in digital advertising at Ogilvy & Mather. In 2018, Randi attracted criticism for saying Holocaust deniers shouldn't be banned on Facebook. She's also previously been criticized for her own seemingly contradictory sentiments on Facebook's privacy rules.

Mark Zuckerberg demos the Quest 3 VR headset

Meta, back when the company was still known as Facebook, once tried and failed to launch a smartphone. With the arrival of the mixed reality era, the company decided to make another hardware play again—and this time, it's having better luck. Meta's aggressively priced Quest headsets offer VR for the masses, and here CEO Mark Zuckerberg shows off the new mixed reality experiences and more available with the latest version, the Quest 3.

In 2018, the Supreme Court sided with American Express in a case that significantly changed antitrust regulation.

The US Department of Justice sued Visa, Mastercard, and American Express in 2010 over alleged anticompetitive contracts with merchants. While Visa and Mastercard settled out of court, American Express went to trial and had its case taken all the way up to the Supreme Court—which ruled that both sides of a transaction business must be analyzed to determine a monopoly.

Facebook launched in a Harvard University dorm room in 2004

The controversial "FaceMash," where students rated each other's attractiveness, was the precursor to Mark Zuckerberg's social network. The platform rebranded as Meta after several acquisitions and a push into virtual reality, distancing itself from controversies.

Mark Zuckerberg testified before Congress eight times between 2018 and 2024

Zuckerberg testified in Congress for the first time in 2018 over Facebook's privacy violations and its failure to detect Russian interference on the app during the 2016 election. Since then, Zuckerberg has appeared a total of eight times to defend Meta against privacy violations, child safety, and more. (Some users may experience a paywall.)

Balancing free speech while curbing misinformation has destroyed content moderation

Accusations of censorship and bias have led social media companies like Meta and X to scale back or abandon moderation tools—just as foreign propaganda surges. Researchers say their ability to track manipulation online has become severely limited.

Facebook was sued for $150 billion over the violence against Rohingya refugees

Facebook has been criticized for years for a prevalence of disinformation and hate speech, a problem that's not just confined to digital content. The plaintiffs argue Facebook's algorithm amplified dangerous propaganda in Myanmar, contributing to violence.

Why this artist staged a satirical romance with Mark Zuckerberg

Internet performance artist Harriet Richardson is using AI and Meta's social media tools to make it appear as though she's in a serious romantic relationship with Mark Zuckerberg. While the images generate laughs, Richardson also says they're part of a larger satirical project aiming to highlight the larger societal impact of Meta's decision to discontinue fact-checking content across its platforms.

Google Search incorporated AI Overviews in 2024 to fight back competitors

Analysts believe that generative AI tools—not antitrust rulings—are Google's biggest threat because they draw users away from traditional search and potential ad revenue. AI partnerships, like the one between Apple and OpenAI, may further reduce Google's market share.

In 2025, ByteDance agreed to sell the app's US branch

In 2024, US lawmakers passed a requirement for parent company ByteDance to sell TikTok or face a ban in the country, which the company challenged in court. After several extensions granted by President Trump, ByteDance agreed to sell the company's US branch to a group of US investors, including Oracle, which will oversee the app's security and cloud computing.

Around 87 million users were impacted by Facebook's Cambridge Analytica scandal

Cambridge Analytica, a consulting firm with Russian and conservative ties, harvested data from Facebook users through a research tool that tracked interests across social connections on Facebook. Those profiles were used for targeted ad campaigns supporting Donald Trump in 2016 and pro-Brexit ads. A whistleblower originally said the private data of more than 50 million Facebook users was compromised, but a Facebook officer later estimated the number was around 87 million. Facebook settled the class-action lawsuit over the privacy breach for $725M in 2022.

Meta has added video features to attract more young users to Facebook

Amid an aging userbase and competition from newer social networks like TikTok, Facebook has seen its perceived relevance and cool factor progressively decrease. The Local tab and dating features are among several efforts to counter this perception.

Bumble Founder Whitney Wolfe Herd sued Tinder for sexual discrimination and harassment

Wolfe Herd, who cofounded Tinder and was its VP of marketing, left the company in April 2014 after dating a Tinder cofounder who became "verbally controlling and abusive." In September of that year, she received a more than $1M settlement from her lawsuit against the company.

In 2024, global ad spend surpassed $1T for the first time

Organizations like GroupM and WARC began predicting this record high in 2023. Five large tech companies (Alphabet, Meta, Amazon, Alibaba, and TikTok parent ByteDance) were predicted to account for more than half of all global ad spend in 2024.

The prototype for Tinder was created during a 2012 hackathon

By August 2012, Tinder, which was originally called Match Box, had launched on the Apple App Store. Match Group merged Tinder into its portfolio in 2017, the same year it set its sights on acquiring Hinge. Experts say that Match has not been declared a monopoly in part because monopolies are "hard to prove."

Listen to a podcast that traces the history of DOJ antitrust enforcement

This podcast series traces how the US government's approach to regulating big business has changed over a century—from the DOJ's breakup of John D. Rockefeller's Standard Oil monopoly, through lawyer Robert Bork's influence on how courts interpret competition law, to the FTC's modern antitrust lawsuit against Amazon.

Facebook was almost sold to Yahoo! for $1B, but its CEO refused

The board tried to fire Mark Zuckerberg for his resistance, which he blames for failing to communicate the long-term vision of the company. He claims the company has succeeded by launching products quickly to learn faster than its competitors.

Mark Zuckerberg's 2024 rebrand was dubbed the 'Zuckassaince'

Zuckerberg, like Apple cofounder Steve Jobs, wore the same, simple T-shirts and outfits for most of his early career to decrease the decisions he'd have to make on a daily basis. In 2024, Zuckerberg started wearing chunky gold chains around his neck and oversized T-shirts with slogans on them. Some say the "Zuckassaince" is an effort to rebrand Meta as a futuristic company, not just an old social media company for millennials.

Facebook settled a lawsuit over Zuckerberg allegedly stealing the original idea for the company for $65M

While at Harvard, three students (Cameron Winklevoss, Tyler Winklevoss, and Divya Narendra) approached Mark Zuckerberg with the idea for a platform exclusively for Harvard students called ConnectU. Those students sued Facebook, alleging that Zuckerberg stole the idea from the trio.

The 'Facebook papers' revealed the company prioritized profit over public safety

A whistleblower came forward with internal documents showing employees warned leadership about the company's role in fueling political unrest and misinformation. Systems like XCheck shielded high-profile users like President Donald Trump from normal content rules, often to avoid PR backlash.

In 2024, Meta launched an AI video generator to create or edit videos through prompts

The tool puts the Meta in direct competition with OpenAI and Google as more companies are investing billions of dollars to capitalize on the explosion of public interest in machine learning and generative media technologies.

Meta has reported WhatsApp users send over 100 billion messages daily

Across 180 countries and 60 languages, approximately billion users use the messaging app every day, with about 400 million in India, WhatsApp's biggest market. In some countries, the app has gone beyond messaging, enabling users to schedule doctor's appointments, conduct real estate deals, and provide direct-to-consumer sales.

The 1948 Supreme Court ruling was overturned in 2020

In 2020, US District Court Judge Analisa Torres overturned the 1948 Supreme Court ruling that broke up the studio system—effectively allowing the film industry to become vertically integrated once again—with companies like Amazon and Disney taking advantage of the relaxed regulations.

Read the Federal Trade Commission's legal definition of a monopoly

The Federal Trade Commission and the US Department of Justice (DOJ) Antitrust Division are the regulatory agencies responsible for overseeing antitrust laws. Before deeming any company a monopoly or acknowledging monopolistic power in a market, the FTC conducts thorough research into market competition, price, and even other competitors' business practices.

Social psychologist Jonathan Haidt, author of 'The Anxious Generation,' contends that children are losing the ability to pay attention as they spend half their lives perusing social media content designed to hook them.

Social media platforms benefit not just from ensuring they have satisfied users, but also from the personal data they scoop up and can then sell to online advertisers.

Trump has extended TikTok's sale deadline three times

In 2024, US lawmakers passed a requirement for parent company ByteDance Ltd. to sell TikTok or face a ban in the country, which the company challenged in court. In early 2025, the law took effect, though President Trump paused it three separate times, affording the company more time to sell.

Mark Zuckerberg credits some of Facebook's success to constant evolution

Before becoming the head of OpenAI, Sam Altman was the president of Y Combinator—a startup accelerator company that supported companies like Airbnb, DoorDash, and Coinbase. In 2016, Altman interviewed Zuckerberg about creating Facebook and its growth over time. Zuckerberg said that, unlike other companies (think: CourseMatch), Facebook kept growing and adding new features, which prevented the app from becoming obsolete.

Elon Musk reshaped Twitter into X with bold moves and polarizing decisions

What began in early 2022 as Musk quietly buying Twitter shares soon escalated into a $44 billion hostile bid to take the company private. When Musk officially took over Twitter, he walked into headquarters carrying a literal kitchen sink, captioning the moment, "Let that sink in."

Modern antitrust law was created to combat the Standard Oil Trust

John D. Rockefeller's Standard Oil Trust enabled him to evade laws against a single corporation buying stock in another. His centralized board of directors held stock in many different oil companies under his control, allowing Rockefeller to eventually monopolize the oil refining industry. Efforts to regulate and prevent the Standard Oil Trust's monopoly became known as "antitrust" laws.

What Trump's second 75-day extension means for TikTok sale

After President Trump took office in January 2025, he offered TikTok the opportunity to find a US company to buy the app within 75 days. In the meantime, the app continued operating. In April, Trump extended that deadline by an additional 75 days. This BBC article breaks down what that means for the company's potential buyers and for its users.

Tech giants like SpaceX and Meta are increasingly behaving like sovereign powers

Companies now make unilateral decisions once reserved for nation-states, such as controlling satellite internet access in active war zones and influencing global information flows. Lawmakers and the international order are struggling to keep up with technological developments, let alone regulate them.

The TikTok sale went through in January 2026

The app's ownership is now majority American, though TikTok CEO Shou Chew, who is Chinese, remains on the board of directors. It's unclear what, if anything, has changed for American users, as the company has historically kept the specifics of its algorithm a secret.

The next technology epoch is here

From ChatGPT to DALL-E, 2022 saw the mainstream emergence of artificial intelligence for consumer use. Here's how these platforms will disrupt today's five biggest tech companies—Apple, Amazon, Meta, Google, and Microsoft.

The way dating apps make money is changing

As downloads fall across the industry, dating apps are trying to stay competitive by adding paywalls to their business models. The more than $6B dating app industry is largely dominated by Match Group, the parent company of both Tinder and Hinge. This video explores how AI and human behavior are changing the industry one right swipe at a time.

Blackstone acquired a majority stake in Bumble's former parent company in 2019 ahead of the dating app's IPO

The New York City-based investment management company paid about $3B for its stake in female-focused dating app Bumble. The app's 2021 IPO that made Bumble Founder and CEO Whitney Wolfe Herd a billionaire at age 31 proved lucrative for Blackstone as well.

As thousands of lawsuits proceed against social media companies for alleged harm, social psychologist Jonathan Haidt lays out the seven main arguments for holding social media companies legally responsible.

A video compares two visions for the metaverse: one from Nvidia and one from Facebook

The CEOs of top technology companies Nvidia and Meta recently revealed their visions for the metaverse of the future. As of 2021, both Jensen Huang and Mark Zuckerberg were bullish on virtual world-building, although Huang seemed more focused on the metaverse's business implications than its social ones, which Zuckerberg prioritized.

Understanding TikTok-owner ByteDance's business model

ByteDance has ridden TikTok's major success to become the world's most valuable startup. This deep dive showcases some of the company's smartest moves and tactics, and where it's headed next.