Meta Platforms (FB) Changes Ticker to META

The new ticker, effective June 9, 2022, is part of the rebranding of Facebook

Meta Platforms, Inc. (META) began trading under its new stock ticker symbol. Its previous ticker symbol, FB, had been used since the company, then called Facebook Inc., had its initial public offering (IPO) in 2012. Adopting the new ticker symbol, META, is another step in the company's rebranding from Facebook to Meta, which was announced on Oct. 28, 2021.

No action is required by holders of Meta's class A common stock, which is listed on NASDAQ. Also, the CUSIP number associated with these shares will remain unchanged. When the company announced its name change, it said that its ticker symbol would change to MVRS on Dec. 1, 2021, but this move was delayed and eventually scrapped.

Key Takeaways

  • Meta Platforms, Inc. changed the ticker symbol for its class A common stock from FB to META.
  • The change became effective before markets opened on June 9, 2022.
  • The CUSIP number will not change, and shareholders do not need to take any action.
  • This is another step is the rebranding of the company formerly known as Facebook.
  • The ticker was originally going to be changed to MVRS, but this was scrapped.

Business Rationale

Since its founding in 2004 under the name Facebook, Meta Platforms has made several significant acquisitions that broadened its business out from just the Facebook social media platform. However, in subsequent years the company made several significant acquisitions, as outlined below:

Messaging service Beluga, acquired in 2011, provided the technology behind Facebook's Messenger platform. Photo and video sharing app Instagram, acquired in 2012, still operates under that name. Virtual reality technology company Oculus VR, acquired in 2013, and Surreal Vision, acquired in 2015, are key elements in Meta's drive "beyond 2D screens toward immersive experiences like augmented and virtual reality to help build the next evolution in social technology." Mobile messenger service WhatsApp, acquired in 2014, continues to operate under that name.

When the new corporate name of Meta was announced on Oct. 28, 2021, the stated intent was to bring together the company's various apps and technologies under one brand. The press release continued, "Meta’s focus will be to bring the metaverse to life and help people connect, find communities and grow businesses."

Article Sources
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  1. Meta Platforms, Inc. "Meta Platforms, Inc. to Change Ticker Symbol to 'META' on June 9."

  2. Meta Platforms, Inc. "Introducing Meta: A Social Technology Company."

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