Meta to launch paid subscription service Meta Verified

February 20, 2023  12:01

The owner of social networks Facebook and Instagram, Meta will launch a paid subscription service, Meta Verified, starting at $11.99 a month that allows users to verify their accounts, CEO Mark Zuckerberg announced Sunday, AFP reported.

Zuckerberg said Meta Verified, which will first appear in Australia and New Zealand this week, will allow users to verify their accounts with a government-issued ID, get a blue badge, extra protection against "fake" accounts impersonating you, and direct access to customer support.

"This new feature is about increasing authenticity and security across our services," he said on his Facebook account.

Facebook and Instagram accounts that have already been verified will not change, the company said, adding that only users over the age of 18 will be able to sign up. The service is not yet available to businesses.

Musk's initial attempts to launch a similar service on rival social network Twitter last year led to the unpleasant consequence of a multitude of fake accounts that spooked advertisers and cast doubt on the site's future.

It was forced to briefly suspend operations before resuming them in December.

Meta's announcement comes amid financial difficulties at the company, which announced in November that it was laying off 11,000 employees, or 13 percent of its staff. It is the largest layoff in the company's history.

The layoffs are part of a wave of layoffs announced by Silicon Valley giants in recent months as the once-unassailable sector faces economic uncertainty.

Meta is also under pressure because of its huge bet on the meta universe, a virtual reality world that Zuckerberg believes will be the next frontier in online.

Investors punished Meta last year, causing the company's share price to drop two-thirds in 12 months, but the stock recovered partially in 2023.

Zuckerberg remains optimistic about Meta's future.

Earlier this month, the company reported its first annual drop in sales since going public in 2012, but that drop was less severe than expected.

The company also recently announced that the number of daily Facebook users reached two billion for the first time.


 
 
 
 
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