News > Facebook declined to spin-off its Workplace app as $1 bn unicorn 

Facebook declined to spin-off its Workplace app as $1 bn unicorn 

Facebook (before it was rebranded as Meta) was approached by venture capitalists to spin off its Workplace app and make it a new company valued at over $1 billion. But Facebook declined.

Workplace, Facebook's collaboration tool for businesses has gained more than seven million paid enterprise users. It was originally built as a version of Facebook for its own employees to communicate with one another.