• Facebook plans to change company name to reflect metaverse focus

    Technology

    Facebook is planning to change its company name next week. This initiative to rebrand the company name is to reflect its focus on creating the metaverse.

    CEO Mark Zuckerberg intends to talk concerning at the firm's yearly Connect discussion on October 28th. However, he could unveil sooner, which is expected to indicate the tech giant's goal to be recognized for more than social media and all the wrongs. 

    The rebrand would take a reasonable view of the blue Facebook app. As one of several products under a parent company managing groups like Instagram, WhatsApp, Oculus, and added. A spokesperson for Facebook refused to comment on this account.

    Facebook already has more than 10,000 employees making consumer tools like AR glasses. Zuckerberg believes it will eventually be as universal as smartphones. 

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    In July, he stated that over the next many years, "we will effectively transition from people seeing us as primarily being a social media company to being a metaverse company."

    A change could further divide the futuristic work Zuckerberg. He focused on from the full analysis Facebook is currently under for how its social platform serves today. 

    Facebook is not the first well-known company to rebrand its company name. In 2015, under a holding company called Alphabet, Google changed partly to mean that it was no longer just a search engine. Rather it is a sprawling conglomerate with firms making driverless vehicles and well-being tech. 

    Moreover, Snapchat rebranded to Snap Inc. in 2016. The same year it began calling itself a "camera company" and debuted its first set of Spectacles camera glasses.

    The metaverse is 'going to be a big focus.' I believe that this is going to be a significant part of the following chapter for the way that the internet grows after the mobile internet," stated Zuckerberg. 

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