Facebook wants to change its company name as soon as next week; this is based on a report coming from The Verge. The new company name will reflect Facebook's focus on creating a metaverse, a concept that has quickly taken a massive hype in the tech world.
Facebook's Decision to Change the Company Name Could Cause an Uproar, But There is Not Much to Worry About
Mark Zuckerberg is planning to talk about the name change at the upcoming annual Connect conference on October 28th, but the name might end up being revealed earlier, as per the report. The rebrand will likely put Facebook as a separate product under a new parent company responsible for overseeing other products and services like WhatsApp, Instagram, Oculus, and more. This is not shocking, as Google also did something similar back in 2015 when it set up a parent company called Alphabet.
“We will effectively transition from people seeing us as primarily being a social media company to being a metaverse company,” Mark Zuckerberg told The Verge back in July. He also previously said that the metaverse is “going to be a big focus, and I think that this is just going to be a big part of the next chapter for the way that the internet evolves after the mobile internet.”
The report also says that the new name is, at the moment, a closely guarded secret, and it is not known to even the senior Facebook leadership.
Facebook has also made strides in its efforts to build a new metaverse in the past few months. Last summer, it even set up a team dedicated to this so-called metaverse. A few days ago, Facebook announced its plans to hire 10,000 new people in Europe to work in this metaverse.
Facebook has described the metaverse as “a set of virtual spaces where you can create and explore with other people who aren’t in the same physical space as you.”
What are your thoughts about Facebook wanting to change its name? Let us know what you think.
