Meta Enters Enterprise Software Market with New Platform
Meta Platforms has announced a new 'pillar' of its business, the Meta Enterprise Platform. This platform will offer businesses and developers access to Meta's full technology stack, including the Muse agent, Meta Business Agent, Muse API, and more.
The news sent shockwaves through the enterprise software sector, with stocks such as ServiceNow, Salesforce, Microsoft, and Oracle declining in value. The iShares Expanded Tech-Software Sector ETF dropped 2%, while individual stocks like Adobe, Figma, SAP, Accenture, and monday.com saw declines ranging from 1.5% to 7%.
Meta has tapped MongoDB CEO Chirantan 'CJ' Desai to lead the effort, citing his extensive experience in building full-stack software and delivering results in AI, infrastructure, business applications, and security.