PES UNIVERSITY

(Established under Karnataka Act No. 16 of 2013) 100-ft Ring Road, Bengaluru – 560 085, Karnataka, India

Business Information Systems - Mini Project

Facebook/Meta Digital Transformation

Submitted by:

Shrikar Chalam (PES1UG20BB117) Jan to May 2022

Submitted to:

Prof. Nayana Nadhig

Department of Management Studies

PES University

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 DECLARATION

I, Shrikar Chalam, hereby declare that the study report entitled,

‘Business Information Systems – Mini Project’, is an original work
done by Shrikar Chalam of the student, under the guidance of
Prof. Nayana Nadhig
department of Management Studies, and is being submitted in
partial fulfilment of the requirements for completion of IV Semester
course work in the Program of Study BBA at PES UNIVERSITY.

PLACE: Bangalore

DATE: 19-04-2022

NAME: Shrikar P. Chalam

SIGNATURE OF THE CANDIDATE:

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Table of Contents

CHAPTER CONTENTS PAGE NO.

Introduction Pages:

1. Title Page
2. Student Declaration
Introduction 1-2

CHAPTER 1 Introduction to the Study:

-Industry Profile

-Company Profile
4-8
-Background of the topic/History

CHAPTER 2 Research Design:

-Secondary Data Collection

9-11
-Facebook: The most popular Social
Network

CHAPTER 3 Research Design:

-Secondary Data Collection

12-16
-Timeline

CHAPTER 4 Suggestions, Recommendation’s,

Summary and Learning Experience
17-21

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 CHAPTER I

Introduction

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Industry Profile
The online social media marketplace contains of offers via of means of entities (associations,
sole agents or organizations) that empower customers to communicate, make and reveal
content material. Social media empowers customers to share and reveal pictures, recordings,
and listening documents. This marketplace consists of earning from offers from promotions
and one-of-a-kind commercials provided thru web-primarily based totally social media
platforms. The number one styles of web-primarily based totally enjoyment are online
entertainment industrial and web-based enjoyment membership. Online enjoyment selling is
a sort of superior publicizing which makes use of digital enjoyment levels inclusive of
Twitter, LinkedIn, Instagram, Facebook, and Pinterest to offer supported advertisements to
the right hobby group. The diverse administrations include interpersonal interaction,
microblogging and texting, image sharing networks and is used by one-of-a-kind areas, for
example, retail and discount, transportation, assembling, meals and refreshments, economic
administrations, facts innovation, electric and hardware assembling, media and amusement,
transportation administrations, scientific services, etc. The global online entertainment
marketplace size is supposed to increase from $159. Sixty-eight billion of each 2021 to
$223.eleven billion out of 2022 at a construct every year improvement rate (CAGR) of
39.7%. The improvement is for the maximum element due to the businesses enhancing their
duties and recuperating from the COVID-19 effect, which earlier precipitated prohibitive law
measures together with social removing, faraway working, and the realization of enterprise
physical activities that delivered approximately useful difficulties. The marketplace is meant
to reach $833.50 billion through 2026 at a CAGR of 39%. Rising infiltration of versatile,
tablet, and different devices and growing statistics usage will pressure the net amusement
marketplace. An enlargement in offers of internet to be had digital devices, for example,
smartphones and tablets activate an enlargement in time spent through on-line amusement
sites. For instance, the whole variety of smartphone devices the world over arrived at 6
billion by2020, this is 8 people out of 10 possessed a smartphone in 2020, at ultimate using
the earning of internet-primarily based totally amusement businesses. This growing usage of
cell phones is meant to increment internet use, therefore using the net amusement
marketplace.

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Company Profile
Meta Platforms, Inc. creates objects that empower people to interface with cherished ones
and/or colleagues via smart phones, PCs, virtual and augmented reality headsets, wearables,
and in-domestic devices across the world. It works in sections, Family of Apps and Reality
Labs. The Family of Apps section's objects comprise Facebook, which empowers people to
share, find, and accomplice with interests; Instagram, a neighbourhood place for sharing
photographs, recordings, and personal messages, in addition to channel, stories, reels, video,
live, and shops; Messenger, an informing utility for people to interface with companions,
family, gatherings, and corporations throughout levels and devices via talk, sound and video
calls, and rooms; and WhatsApp, an informing utility this is used by people and corporations
to deliver and execute secretly. The Reality Labs component offers improved and augmented
fact and digital fact associated objects consisting of laptop generated fact equipment,
programming, and content material that help with humans feeling associated, on every
occasion and wherever. The company turned into formerly referred to as Facebook, Inc.
furthermore, modified its call to Meta Platforms, Inc. in October 2021. Meta Platforms, Inc.
turned into consolidated in 2004 and is primarily based totally in Menlo Park, California.

Meta Platforms Inc. NASDAQ Current Price (as on 20-04-2022): $217.31

Mr. Mark Elliot Zuckerberg Founder, Chairman & CEO

Mr. David M. Wehner Chief Financial Officer

Ms. Sheryl Kara Sandberg COO & Director

Mr. Christopher K. Cox Chief Product Officer

Ms. Susan Jannifer Simone Taylor Chief Accounting Officer

Mr. Andrew Bosworth Chief Technology Officer

Mr. Atish Banerjea Chief Information Officer

Ms. Deborah T. Crawford VP of Investor Relations

Ms. Jennifer G. Newstead Chief Legal Officer

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Mr. Henry T. A. Moniz Chief Compliance Officer

Hot or Not?: The Birth of Facebook

In 2003, Zuckerberg, a sophomore at Harvard University, created a software application for

an internet site known as Facemash. He hacked into Harvard's safety community and used his
pc capabilities in suspicious ways. There, he copied the scholar ID snap shots used withinside
the dorm and used them to go into facts into a brand-new internet site. Website traffic can use
Zuckerberg's internet site to examine scholar pictures aspect-with the aid of using-aspect to
decide who is "hot" and who is "not." Despite its mediocre and degrading lifestyles 450 those
who voted around 22000 instances had been active on Facemash. Facemash opened on
October 28, 2003 and was shut down some days later after being closed with the aid of using
Harvard University directors because of the violation of college coverage and privacy. As a

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result, Zuckerberg confronted extreme crimes of safety breaches, piracy, and personal
privacy breaches but, subsequently the charges towards him had been subsequently dropped.

The Facebook: A Social Application Exclusively for

Harvard Graduates

On February 4, 2004, Mark Zuckerberg relaunched his stolen idea as a webpage known as
TheFacebook. Zuckerberg was recognised by his seniors due to him outsmarting Harvard’s
security interface. His seniors had an idea to create a social media network called
HarvardConnection. They wanted Zuckerberg to be the coder for the website. Initially
Zuckerberg agreed but, he then proceeded to steal their idea and create his own social media
website called TheFacebook. It was first accessible only to Harvard students Over the long
run, Zuckerberg added in a couple of his understudies to assist with developing the website.
Eduardo Saverino, for instance, worked on and implemented the business part of things while
Dustin Moskovitz was welcomed on as a coder. Andrew McCollum worked as the site's
graphics and design and Chris Hughes was showcased as the company’s representative.
Together, they expanded the website to other colleges, institutions and universities. The first
digital transformation for Facebook was implemented when Zuckerberg had the idea of
adding Relationship status. It showed the users status if they are in a relationship. For
example, if a user is dating or single, it would show on his/her bio. The Facebook was a
platform only opened up to Harvard students at first. It was implemented as a dating site for
students to make new relationships with other students on campus. Admittance to Facebook
is free, and the organization makes majority of its cash from publicizing and advertising on
its site. New clients can make profiles, transfer photographs, join existing gatherings, and
make new gatherings. The site has a large number, including a course of events, which is the
region of every client's profile page where clients can post content and companions can post
messages. Clients can illuminate their companions about their ongoing area and
circumstance. A news channel that advises clients of changes in a companion's profile or
status. Clients can visit with one another and send private messages to one another. The Like

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button, which is likewise found on numerous different sites, permits clients to be told of
Facebook content endorsements.

CHAPTER II

The Most Popular Social Network

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What made Facebook Different?: The Earth’s
Most Widely used Social Media Networking Site

In 2004, undertaking capitalist, Peter Thiel made a $500,001 angel funding for 10.2% of the
organization and joined the organization’s board. This became the primary out of doors
funding in Facebook. Napster creator and investor Sean Parker had become the organization's
president. By June 2004, greater than 250,000 college students from 34 colleges had enrolled
and in the equal year massive businesses such as credit card organization MasterCard had
been paying for their presence at the site. The business enterprise modified the site's name
from TheFacebook to 'Facebook' after buying the web page named ‘facebook.com’ in 2005
for $200,000. In 2005 secondary college understudies and understudies at schools outside the
USA had been authorized to enroll in the website. By the end of the year, it had 6,000,000
month-to-month customers. The subsequent year, investment company, Accel Partners
capitalized $12.7 million in to the business enterprise, generating the power to manufacture a
rendition of the business enterprise for secondary school & college students. Facebook would
later develop to distinct companies, like electors of the companies. In September of the year
2006, Facebook declared that all of us who were above thirteen years of age and had an
extensive electronic mail address could be a part of the Facebook community. As Zuckerberg
anticipated, promoters had the choice to gather new and effective customer connections. For
instance, own circle of relative’s products manufacturer Procter and Gamble welcomed
14,000 people this year to develop through communicating "liking" with enamel brightening
items. Such massive scope direct client dedication become unrealistic earlier than Facebook,
and that is simply the start and greater companies started out to contain casual groups for
selling and publicizing. In 2008, Facebook overtook Myspace because the maximum visited
social media site. With the release of stay feeds, the organization has additionally brought a
aggressive area to the developing recognition of Twitter, a social community that hosts stay
feeds of news-fashion posts from participants that customers follow. As 2009 came around,
Facebook had emerged as the earth’s maximumly used social media site.

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Fast forward to 2019 the online entertainment, video and photo sharing behemoth, Facebook
has replaced its name with Meta to mirror the organization's developing aspirations past
virtual entertainment.
Changing the name to Meta is only one stage the organization has implemented to change its
activities and spotlight on new and creative advances in the web-based entertainment field.

We outline how the company transitioned to focus its work on

the metaverse:

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 CHAPTER III

Timeline towards the Implementation of Meta

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Oct 2016 to May 2019 – Introduction and
Implementation of Oculus Quest

Oculus Quest was first offered with the aid of Reality Labs, an auxiliary of Meta on Oct 13,
2016. Oculus Quest is a VR headset which offers a patron admittance to bring and interface
withinside the metaverse. At Oculus Connect 3, 2016, Facebook CEO Mark Zuckerberg
exposed that Oculus changed into constructing a free, impartial augmented simulation
headset codenamed "Santa Cruz". At Oculus Connect four the subsequent year, it changed
into stated that Oculus had to deliver programming development packs for the brand-new
version in 2018. They moreover exposed the regulators, which might resemble the Oculus
Rift's contact regulators. In 2018 at Connect 5, it changed into introduced that the brand-new
headset might be called the Oculus Quest and might be assessed at US$399. At F8 2019 it
changed into accounted for that the Quest might launch on May 21, 2019. At discharge, the
tool changed into assessed at $399 for the 64 GB variant, and $499 for the 128 GB variant.
The replacement, Oculus Quest 2, was introduced to the sector on September 16, 2020. It was
introduced on October 13 starting at $299 for the 64GB variant and $399 for the 128 GB
variant. Here, Facebook's 2nd automatic alternate occurred once they supplied the Oculus
Quest at the lookout. It authorized customers to get to the metaverse and connect to diverse
individuals.

July 2021 - Creating the Executive Team: Intro to

the Metaverse

In July 2021, Meta (FMA; Facebook) revealed that they would assemble a production team to
work on the metaverse. This team was part of the company’s VR group, also known as
Reality Labs. Some of the members included in this team were:
 Vishal Shah (Executive in Charge of Product, Instagram)

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  Andrew Bosworth (VP of Reality Labs)
This team aimed to make the metaverse mainstream and in 5 years’ time, make the metaverse
a new world of interaction between different users. It also aims to create new ways of
payment from crypto and NFT’s. They also aim to sell properties in the form of land in the
metaverse. Land can be both centralized or decentralized. It can be kept as an asset which
appreciates over time. The owner of the land can also create a metaverse experience like
movies in the metaverse or music concerts, etc. This opens up a new way of entertainment for
us.

August 2021 - Facebook Launches Virtual Reality

Remote for Work: Horizon & Workplace
After a month of working on the metaverse from Meta’s (FMA; Facebook) VR group,
Reality Labs, Facebook launched a test of a new virtual-reality remote work app where users
of the company’s Oculus Quest 2 headsets can hold meetings as avatar versions of
themselves. This opens up a new way of attending company meetings and interaction in the
metaverse. It opens up a new world of interaction between two or more individuals. Oculus
Quest also revealed a new workspace called horizon where companies can have meetings in
the metaverse. This allows people who are not physically capable of attending offline
meetings to attend meetings in person in the metaverse. The important factor of time will be
saved as people from different companies will not have to travel far distances to attend
meetings. Horizon was created for this specific purpose. The avatar can also be customized to
the convenience of the user Workplace has introduced the first-rate services of Facebook to
the users. Whether it is important infrastructure inclusive of News Feed, immediate
messaging or the capacity to create and share in Groups or via chat, or beneficial capabilities
which includes Live, Reactions, Search and Trending posts. The platform method shows that
you can video chat with a colleague internationally in real-time, host a digital brainstorm in a
Group, or observe together your CEO's presentation on Facebook Live. They have
additionally constructed unique, Workplace-exclusive functions that businesses can gain
from inclusive of a dashboard with analytics and integrations with single sign-on, further to

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identification companies that permit businesses to greater effortlessly combine Workplace
with their present IT systems.

September 2021 – Tie-Up with Rayban for Smart

Glasses
Meta (FMA; Facebook) taking part with Rayban, released its first set of smart glasses. These
glasses allowed customers to get right of entry to the metaverse from anywhere. It
additionally permits the consumer to seize photos, pay attention to music, take phone calls
and get right of entry to social media without the use of their phone. This changed into the
following degree of virtual transformation for both Facebook and the customers. It extended
the manner humans engage with every different and gave the consumer greater particular
approaches to apply technology. Ray-Ban Stories is the step towards Mark Zuckerberg’s
prolonged period of imagination and prescient for Facebook, that's to understand and take
part in the “metaverse.” Matthew Ball explains about the metaverse as an area of
“exceptional interoperability” with a unified, included economy. Mark. Z described it as a
shared location that unites many groups and familiarities, collectively with real, virtual, and
augmented realities. This strive intends to build up geological facts and belongings to feed
the facts goals of future AR glasses and likely toughen Facebook’s involvement in the
metaverse. As Zuckerberg said in a video which gives the introduction to Ray-Ban Stories, he
plans to, in the long run, eradicate mobile phones with Facebook’s smart glasses. These
Glasses provide the customer with privacy and tremendous social cues. Even more than
smartphones. We can tell who is on a smartphone because of the reality we're capable of
seeing the phone in a person’s hand. Figuring out who is carrying Facebook’s glasses is
probably difficult as the glasses look exactly like real sunglasses. The Google Glass, take a
look at it as it failed because of the reality. The Glass seemed very different from normal
eyewear, and we should without issues turn out to be aware about and avoid those carrying it.
Ray-Ban Stories look loads like each and every day Ray-Ban.

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October 2021 - Facebook becomes Meta

Mark Zuckerberg, CEO of Meta, at the Facebook Connect virtual and augmented reality
meeting, reported the organization's arrangements to alter its name to Meta to mirror the
organization's aspiration to make innovation to associate individuals. The name depends on
the concept of the metaverse and seeks portray the organization's vision for working, playing,
and interacting in a virtual world. With regards to amusement, a portion of the world's
greatest entertainers are as of now joining to perform in this new reality. When it comes to
working, many entrepreneurs have come up with innovative ideas on how they can make the
metaverse a user-friendly world. For example: An Indian based Metaverse company called
‘Filmrare’ is trying to give tickets to the latest movies in the metaverse so that people can
enjoy a movie watching experience from the comfort of their home. This is just one example,
imagine the number of companies in the metaverse trying to make a difference for
entertainment and interaction.

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 CHAPTER IV
Suggestions, Recommendations, Summary and
Learning Experience

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Suggestions and Recommendations

Facebook as a company is not fully accessible to all parts of the community. As Facebook
connects people from all parts of the community, it should be accessible to everyone.
Currently, the services provided by Facebook are not fully accessible to all people from all
around the world as the services provided are too costly. Facebook should work on making a
more cost friendly product for people who cannot pay for their mainstream products like
Oculus Quest and Rayban smart glasses. Creating this would enable people from backward
communities to interact in the ever-expanding Metaverse.
Facebook is trying to create a virtual interaction space where people can interact and feel
without having to leave their homes. This could cause heavy stress due to the Oculus
Headsets which is vital to access the Metaverse. These headsets are heavy and cannot be put
on for long hours. They also cause stress on the eyes due to the screen being just a few
centimetres from the eyes. This could cause vision impairment. My suggestion is that the
concept of the metaverse is an evolving concept. It needs to be further refined to make it
more user friendly.

Summary and Learning Experience

Facebook, as a company, has always been loyal to their customers and their customers have
always been loyal to the brands that Facebook has created. Instagram and WhatsApp have
around 1.386 billion and 1.6 billion users respectively. It shows that users trust towards
Facebook is immense due to their loyalty and privacy towards their users. Facebook’s
transition into changing their name to Meta shows that they want to give their users a better
place for interaction between friends, family, legal matters and meetings from both formal
and informal backgrounds. This shows that Meta is evolving into a new reality where people
can meet and interact in real time and feel things in the metaverse without actually having to
leave their living space. The Metaverse is an evolving concept and Meta (FMA; Facebook) is

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working on making this new technology a newer normal so people can have a new choice of
interaction between long distant friends and meetings in multi-national corporations so that
users don’t have to work in an unfamiliar environment.

References

https://technologymagazine.com/digital-transformation/timeline-
facebook-meta

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