Workflow
Meta to Phase Out Workplace Over Next 2 Years
Meta PlatformsMeta Platforms(US:META) PYMNTSยท2024-05-14 23:20

Core Insights - Meta Platforms will phase out its Workplace collaboration tool over the next two years, ceasing operations on August 31, 2025, while users can access their data until May 31, 2026 [1] - The decision to discontinue Workplace is part of Meta's strategy to focus on AI and metaverse technologies, which the company believes will transform work dynamics [1] - Workplace was launched in late 2016 to compete in the office collaboration market, achieving 7 million subscribers by May 2021, a growth of over 40% year-on-year [2] Company Strategy - Meta is transitioning Workplace customers to Zoom's Workvivo product, its only preferred migration partner [1] - The company emphasizes the importance of creating positive employee experiences in remote and hybrid work environments, which has driven the growth of Workplace [2] - During a recent earnings call, CEO Mark Zuckerberg highlighted that AI and the metaverse are central to Meta's future direction [2][3] Product Development - Meta is developing various AI services, including an AI assistant, augmented reality applications, and business APIs aimed at enhancing community engagement [3]