Facebook was once like any other social media platform. It was a place to share photos and connect with friends and family but those days are long gone. Today, the company has created something bigger than any other social media platform. Now called Meta, this tech giant is creating a world where you can do virtually anything you can do in the physical world online.

This company has had an impressive journey. It is changing how we play games, shop and generally interact with computers. While competitors like X are narrowing their focus, Meta is setting itself apart by expanding its reach. Let’s look at the strategies the company is using to bring about its goal of becoming an everything platform.

Starting with Games

Meta started this journey towards becoming an everything platform years ago and it all began with gaming. The first big step it took towards this was buying a company called Oculus back in 2014. Oculus was a company making VR headsets for gaming and Meta (still called Facebook then) bought it for $2 billion.

This step showed that wanted to be part of the future of gaming and entertainment. And it paid off! Meta sold 75% of all VR headsets in the world in 2021. That’s three out of every four VR headsets!

But Meta didn’t stop at just making the headsets. It has been working hard to create interesting games for people to play. In 2023 Oculus had 150 new games in the works for people to play on the VR sets it produces, from most-played games like billiards to golf games. It partners with major game developers to expand its library and this has helped maintain user engagement and attract new players.

The Metaverse

The metaverse is Meta’s boldest project yet. It is indeed an everything platform. You can work, shop, and do virtually anything. Meta has dedicated so much to this project. It has spent time and money trying to make it into the ultimate everything platform. Sadly, it has had some significant losses. It invested $15 billion in the project in 2022 and lost $13.7 billion. 

But all the losses paid off in the end because the metaverse is now a global sensation. Companies like BMW are using parts of this technology to make “digital twins” of their factories and machines. This helps them test new ideas and make their real factories work better, potentially saving billions of dollars.

Some brands are already successful in the virtual world. For example, Nike created a place called Nikeland on the game platform Roblox. Over 26 million people visited Nikeland, and Nike made over $185 million selling digital items like virtual sneakers. Can you imagine buying shoes that only exist in a computer game? It’s already happening!

Social Commerce

Meta isn’t just about games and virtual worlds. It has introduced a new way to shop online. With Meta social commerce, social media users can exchange goods and services. The social commerce industry, by the way, is expected to reach more than $6 trillion by 2030.

Social commerce is especially popular on Instagram where users can buy products right from the app, taking advantage of the Instagram Shopping feature. This new way of shopping is becoming popular, and a study found that 75% of people in the U.S. who have tried live shopping are prone to become a second-time buyer too. That’s three out of every four people!

Brands are finding creative ways to use these tools. For example, a fitness company called SoulCycle was one of the first to use Instagram’s “product drop” feature. This lets them announce new products and remind people when they’re available to buy, all through the Instagram app.

AI Integration

Meta wouldn’t be able to achieve all it has achieved without AI. It is the force driving all its innovations. It even created its own AI systems like LLaMA and LLaMA 2.

Meta is integrating AI into many of its products. Already popular smart glasses, made by the partnership with Rey-Ban, can use AI to translate languages and even recognize the surrounding environment. The technology is also being used for Facebook and Instagram algorithms to show users posts that they are likely to be interested in.

We can now see that Meta is working hard to be more than just a social media company. It is creating a digital world where anything is possible. However, this mission has its challenges. Meta is still in its early years, so it will take some time before it can achieve all it aims to achieve. One thing is clear though. Meta is committed to its vision and this is evident in the amount of work and money that goes into the project.