Facebook Changes Company Name to Meta

Facebook Changes Company Name to Meta

Facebook has announced a change of its name to “Meta,” a rebranding that comes as the company faces backlash from lawmakers and regulators over its business practices. The social media giant said the name change would bring its different products and apps together under one umbrella to emphasize its “metaverse” vision. Facebook chief Mark Zuckerberg

Facebook has announced a change of its name to “Meta,” a rebranding that comes as the company faces backlash from lawmakers and regulators over its business practices. The social media giant said the name change would bring its different products and apps together under one umbrella to emphasize its “metaverse” vision.

Facebook chief Mark Zuckerberg on Thursday said the parent company’s name is being changed to “Meta” to represent a future beyond just its troubled social networks. However, Facebook, Instagram and WhatsApp will keep their names under the rebranding.

Mark Zuckerberg said in his presentation that he had chosen the name Meta in part because it “reflects the full breadth of what we do and the future we want to help build”. But he also said he had chosen it as in Greek it means ‘beyond’.

The social network, under fire for spreading misinformation and other issues, said the change was part of its bet on a next digital frontier called the metaverse.

“From now on we are going to be Metaverse first, not Facebook,” Zuckerberg said during a keynote address at the company’s annual developer’s conference. “I hope that people come to know the Meta brand and the future that we stand for.”

Facebook’s name change is largely cosmetic. It will begin trading under the stock ticker MVRS beginning on Dec. 1. The company will also rebrand some of its virtual-reality products as Meta, shifting away from the original brand name of Oculus.

Zuckerberg said the company’s future will focus on building virtual reality products that connect users through a different medium. He predicted that one billion people will be on the Metaverse in the next decade.

The company describes the metaverse as a three- dimensional virtual space where users can create avatars that represent them. Zuckerberg said the new virtual reality world will allow users to play video games, watch movies, attend concerts, collaborate with colleagues, and gather with friends without leaving their living room.

Zuckerberg called Facebook, which he launched from his college dorm room in 2004, “an iconic social media company,” but added that the name no longer “encompasses” everything the company does.
“Right now, our brand is so tightly linked to one product that it can’t possibly represent everything that we’re doing today, let alone in the future,” Zuckerberg said.

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