metaplatforms (GOAL -0.74%) is pouring billions of dollars into developing the metaverse, but CEO Mark Zuckerberg is still building another important pillar of his business.

Before Meta’s virtual reality headsets and metaverse software become a substantial source of revenue growth, Zuckerberg believes there is still plenty of room to grow WhatsApp. The company bought the text app in 2014, when Meta was still called Facebook, for the equivalent of $21.8 billion in stock. While it continues to grow its user base, it hasn’t managed to generate as much revenue.

That may be changing as Zuckerberg and his company turn to the massive user base for revenue amid a slowdown in its core advertising business.

a progress report

Management provided investors with some interesting facts…