Facebook news and archive

'Meta's AI advertising platform': Personalisation and targeting takes centre stage

Meta owner, Mark Zuckerberg (owner of Facebook, Instagram and WhatsApp), is focusing on AI advertising. The company is reportedly working on an artificial intelligence-based advertising platform that will allow advertisers to more easily personalise adverts and target them to a specific audience. The Wall Street Journal first reported this....

Fashion

Meta calls for labeling AI images on its platforms

Images created using artificial intelligence (AI) and posted on Meta’s Instagram, Threads and Facebook platforms will be labelled. In a statement Meta said “as the difference between human and synthetic content gets blurred, people want to know where the boundary lies. People are often coming across AI-generated content for the first time and...

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Business

Meta considers paid subscriptions for European users amidst privacy challenges

Europe's stringent privacy regulations have presented significant challenges for social media companies, which are now required to obtain explicit consent from users before collecting and processing their personal data. This poses a particular challenge for Meta, the US company behind Facebook and Instagram, as its revenue heavily relies on...

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Business

Threads, Meta's new social media platform, surpasses 100 million users in record time

Threads, the latest social media platform and Twitter competitor from Meta, has amassed over 100 million users in less than five days, surpassing the previous record held by Open AI's ChatGPT app, according to reports by the BBC. The platform, positioned as an app for sharing text updates and engaging in public conversations, achieved this...

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Business

Meta launches VR subscription service

Fashion brands have been slow to embrace the potential of the Metaverse as a new sales channel, despite its promises. The industry's cautious approach is partly due to the significant investments required in hardware, software, and infrastructure for virtual reality (VR) technology. Concerns about the unproven return on investment have further...

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Business

Meta to develop new social media platform to rival Twitter

Meta, the parent company of Facebook and Instagram, is planning to develop a text-based social network to rival Twitter. The BBC reported the platform aims to allow users to follow accounts from Instagram, Meta's image-sharing app, and potentially import followers from decentralised platforms like Mastodon. Meta's chief product officer confirmed...

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Business

In Big Tech earnings week, Facebook gets a boost

Investors in Meta saw their stock boosted by 25 percent, as the social media giant posted higher than expected earnings in the fourth quarter of 2022. The parent company to Facebook, Instagram and Whatsapp, said it focused on productivity, streamlining and efficiency, adding nearly 80 billion dollars to its market value. But the operational...

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Business

Facebook, Instagram parent Meta cuts 11,000 jobs

Meta, the parent company of social media giants Instagram and Facebook, has announced it will cut 11,000 jobs, or 13 percent of its workforce, in a bid to slash costs. In a letter to employees, founder and CEO Mark Zuckerberg said the company will also be cutting discretionary spending and extending its hiring freeze through Q1 to become “a...

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Business

Facebook to scrap live shopping in October

Meta-owned social media platform Facebook has announced that, from October 1, its live shopping feature will no longer be available. In a statement, the platform said the decision comes as consumers’ viewing behaviour continues to shift to short-form video. It added that it is planning to redirect its focus to Reels on both Facebook and...

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Retail

Amazon fights back against fake consumer product reviews

Amazon has a fake product review problem. So much so that it is suing over 10,000 Facebook group administrators for “attempting to orchestrate fake reviews on Amazon in exchange for money or free products.” Amazon said it takes the integrity of its reviews platform very seriously and will remove reviews, and delist related products. It also said...

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People

Meta COO Sheryl Sandberg steps down

Meta Chief Operating Officer Sheryl Sandberg is to step down from the social media company she managed with founder Mark Zuckerberg. Her 14-year tenure marks an end to an era, one where Facebook rose into the global collective consciousness and helped drive the fashion industry’s shift to digital. Sandberg, who will remain on Meta’s board, is...

Retail

Facebook owner Meta Platforms to test sale of virtual goods

Meta Platforms (FB) said on Monday that it will soon start testing tools to sell digital assets and experiences inside its virtual reality platform Horizon Worlds. This move is an important part of the company's plan to create a metaverse. Meta said in a statement, "The tools will be available initially to an hand-picked set of users who are...