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Facebook In A Virtual Avatar

In one of the biggest rebranding exercises in the world, the mighty Facebook is looking to create a new business model. A stagnating user base and youth apathy globally combined with the potential of metaverse have taken the social media giant to bet big on an unknown sector. As Facebook becomes Meta Platforms, what happens to its India strategy?

Published a year ago on Jun 01, 2022 16 minutes Read
An artist’s imagination of Ajit Mohan and Mark Zuckerberg as avatars. Illustration: Ashok Adepal

Oculus was one of the many 3D device companies in the virtual gaming world till 2014. It had a promising device in Oculus Rift, which gamers loved and the gaming community thought would change its world. However, Oculus as a whole did not seem to have a great advantage over any of its competitors in terms of technology innovation or market share. It did not imagine a pathbreaking future. When Facebook acquired it that year for $2 billion, observers wondered how a hardware manufacturer fitted into the vision of a social media giant, whose mainstay was digital advertisements.