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- InstagramLearn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.In 2012, Facebook purchased the photo and video-sharing social media site Instagram for $1 billion in cash and stock shares. At the time of the purchase, Instagram wasn’t generating any revenue and only had about 30 million users. Currently, Instagram has over 2 billion active monthly users and brings in more than $17 billion in revenue.marketrealist.com/p/what-companies-does-faceboo…In October 2021, Facebook announced that its parent business will be renamed Meta Platforms. The name change signalled a shift in focus to the "metaverse," an augmented reality realm in which people would participate. The Meta Platform now includes Facebook, the social networking platform.startuptalky.com/facebook-success-story/
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