The Next Major Pillar for Meta Platforms Isn't the Metaverse
Meta Platforms (NASDAQ: META) is pouring billions of dollars into developing the metaverse, but CEO Mark Zuckerberg is still building up another major pillar of his business.
Before Meta's virtual reality headsets and metaverse software turn into a substantial source of revenue growth, Zuckerberg thinks there's still a lot of room to grow WhatsApp. The company bought the text app in 2014, back when Meta was still called Facebook, for the equivalent of $21.8 billion in stock. While it's continued to grow its user base, it hasn't managed to generate that much revenue.
That may be changing as Zuckerberg and his company turn to the massive user base as a source of revenue amid a slowdown in its core advertising business.
Source Fool.com
