Meta Takes Down Workplace App for Businesses to Focus on AI and Metaverse

By Thea Felicity

May 15, 2024 12:09 PM EDT

In this illustration photo taken in Los Angeles on October 28, 2021, a person watches on a smartphone Facebook CEO Mark Zuckerberg unveil the META logo. - Facebook chief Mark Zuckerberg on Thursday announced the parent company's name is being changed to "Meta" to represent a future beyond just its troubled social network. The new handle comes as the social media giant tries to fend off one its worst crises yet and pivot to its ambitions for the "metaverse" virtual reality version of the internet that the tech giant sees as the future.
(Photo : CHRIS DELMAS/AFP via Getty Images)

Meta announced on Tuesday, May 14,  its decision to shut down its business-focused Workplace app. 

Initially introduced in 2016, Workplace facilitated colleague file sharing and was a central repository for company policies and documents.

By 2021, the app had amassed 7 million paid subscribers.

READ NEXT: Mark Zuckerberg's Net Worth Takes a $22 Billion Hit as Meta Stock Dives

Meta AI and Metaverse

Meta explained that the development of AI and metaverse technologies is expected to revolutionize how people work. This led to the discontinuation of Workplace, an online collaboration tool primarily designed for corporate clients.

According to CBS News, the tech giant will redirect its resources instead towards artificial intelligence (AI) and the metaverse.

Existing Workplace users will have until August 31, 2025, to continue using the platform before transitioning to Zoom's Workvivo product, identified by Meta as its "sole preferred migration partner." 

Now, Meta assures customers they will have access to their Workplace data for approximately one year after the app ceases operation.

This is not news for Meta, which has been prioritizing its investments in developing technologies related to the metaverse and artificial intelligence this year.

VCPost reported that CEO Mark Zuckerberg urges investors to remain patient and maintain their long-term vision for AI. This call for patience follows a decline in the company's stock triggered by Meta's announcement of plans to ramp up investment in AI, coupled with slower-than-expected sales growth. 

READ MORE: Meta and Apple in Race to Develop First Non-Invasive Neurotech for Healthcare

© 2024 VCPOST, All rights reserved. Do not reproduce without permission.

Join the Conversation

Real Time Analytics