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"In 2021, Facebook CEO Mark Zuckerberg rebranded the company to Meta, signaling a shift towards the metaverse. Meta had been working on virtual reality technology since 2014 and launched Horizon Worlds in 2021. Despite ambitious goals, the platform struggled to gain traction, with only 200,000 monthly active users reported in 2022. The company's Reality Labs division has also accumulated significant operating losses, totaling $58 billion since 2020."
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