Meta Platforms Inc, which owns the social networking site Facebook, through Beige Key LLC acquired assets under the trademark of the American regional bank Meta Financial Group (CASH.O) for $ 60 million in cash. This was announced on Monday, December 13, by Reuters, citing a company representative.
“Beige Key is an affiliate of our company and we acquired these assets under the brand name,” said a Meta Platforms spokesman.
A bank representative also confirmed the participation of Meta Platforms.
Meta Financial, in addition to offering products including consumer savings, loans and credit cards, and commercial lending through its MetaBank subsidiary, partners with government agencies and financial technology companies.
The deal underscores how valuable the Meta name has become to the tech giant.
On October 28, Facebook founder Mark Zuckerberg announced the renaming of the company to Meta. He stated that he intends to develop virtual reality within the framework of his concept of the metaverse.
Managing partner of the B&C communications agency, Mark Sherman, in an interview with Izvestia, explained that the company needs a name change, since it wants to position itself not as a group of social networks, but as a virtual space. The latter, in the opinion of Meta’s management, will be the next step in the development of the Internet, the expert noted.
Source: IZ
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
