Meta Platforms Inc news and archive

Amazon, Meta make 'fair competition' vows to UK regulator

Amazon and Facebook owner Meta have both voluntarily committed to changes to their retail platforms to help "protect fair competition", Britain's Competition and Markets Authority (CMA) announced on Friday. The US online giants accepted the "sets of commitments" following separate investigations by the UK regulator into "competition concerns"...

Fashion |In Pictures Featured

Ray-Ban and Meta launch next-generation smart glasses

Eyewear brand Ray-Ban and US company Meta, which includes Instagram and WhatsApp, have unveiled a new collection of smart glasses in partnership with EssilorLuxottica on October 17. Describes as the “next generation,” the new Ray-Ban Meta smart glasses offer the first-ever eyewear with live streaming and Meta AI built-in, which it hopes will...

BusinessFeatured

Meta considers paid subscriptions for European users amidst privacy challenges

Europe's stringent privacy regulations have presented significant challenges for social media companies, which are now required to obtain explicit consent from users before collecting and processing their personal data. This poses a particular challenge for Meta, the US company behind Facebook and Instagram, as its revenue heavily relies on...

Fashion

After a bumper launch, Threads loses half its users

Users and businesses were quick to sign up to Meta’s much-hyped Twitter-esque platform, but in a call to employees CEO Mark Zuckerberg acknowledged half of its 100 million signups may have already left. Teething issues such as which content is displayed and limited functionalities, have been ardent criticisms of its users. Mr Zuckerberg said the...

Fashion

Valentino launches digital avatar outfits with Meta

Luxury Italian fashion house Valentino is delving deeper into digital fashion with a new partnership with Meta by offering a capsule collection of special branded digital avatar outfits. The first drop of Valentino digital fashion pieces launched on July 14 and allows people to dress their Meta avatars, which are available on Meta platforms,...

Business

Threads, Meta's new social media platform, surpasses 100 million users in record time

Threads, the latest social media platform and Twitter competitor from Meta, has amassed over 100 million users in less than five days, surpassing the previous record held by Open AI's ChatGPT app, according to reports by the BBC. The platform, positioned as an app for sharing text updates and engaging in public conversations, achieved this...

Business

Threads, Meta's social media platform to rival Twitter, is going live

Meta, the parent company behind Instagram and Facebook, is set to launch its new app called Threads this week, which aims to compete with Twitter. The app, available for pre-order on the U.S. Apple App Store, will be integrated with Instagram and features a text-based conversation platform resembling Twitter's dashboard. The app has not yet...

Business

Meta launches VR subscription service

Fashion brands have been slow to embrace the potential of the Metaverse as a new sales channel, despite its promises. The industry's cautious approach is partly due to the significant investments required in hardware, software, and infrastructure for virtual reality (VR) technology. Concerns about the unproven return on investment have further...

Business

Meta to develop new social media platform to rival Twitter

Meta, the parent company of Facebook and Instagram, is planning to develop a text-based social network to rival Twitter. The BBC reported the platform aims to allow users to follow accounts from Instagram, Meta's image-sharing app, and potentially import followers from decentralised platforms like Mastodon. Meta's chief product officer confirmed...

Business

Meta handed ‘record’ 1.2 billion euro fine for data transfers

Meta, the owner of Facebook, Instagram and WhatsApp, has been issued a “record fine” of 1.2 billion euros by an Irish data protection watchdog after it was found to have breached general data protection regulations (GDPR). The fine comes in regardings to Meta’s transfer of data to the US belonging to European Union Facebook users to the US,...

Business

Meta hit with record 1.2 billion-euro fine over EU data rules

The European Union rolled out its mammoth data privacy regulation five years ago this week, and has since handed down billions in fines. Ireland's data watchdog smashed the record for an individual fine on Monday when it demanded 1.2 billion euros (1.3 billion dollars) from Meta over its transfers of personal data between Europe and the United...

People

A downsizing Meta to lay off further 10,000 employees

Meta is downsizing its personnel with a second round of job cuts. The parent company of Facebook, Whatsapp and Instagram announced 10,000 employees would lose their jobs in their latest restructuring efforts. In a memo to employees Meta CEO Mark Zuckerberg said he believed the company had suffered a humbling wake-up call. “We expect to reduce...