Facebook has changed its name to Meta

Facebook has changed its name to Meta

The company’s new name will be Meta, according to Facebook CEO Mark Zuckerberg, who revealed it during the company’s Connect event on Thursday. “We are a technological firm that connects people,” Zuckerberg explained. “We can finally put humans at the heart of our technology if we work together.” And by working together, we can create a far larger creative economy.”

He went on to say, “To reflect who we are and what we aim to build.” He claims that the word Facebook does not adequately capture all the firm does now and is still associated with a single product. “However, I hope we become known as a metaverse firm over time.”

Zuckerberg owns the Twitter account @meta (whose tweets are now shielded) as well as meta.com, which now leads to a Facebook welcome page explaining the changes.

Facebook is set to rebrand the company with a new name

The redesign is part of the business’s efforts to change gears away from being recognised as merely a social network company and focus on Zuckerberg’s goals for constructing the metaverse, as The PRESS originally reported on October 19th. In July, he told The PRESS that Facebook will “effectively shift from people considering us as largely a social media business to being a metaverse company” over the next several years.

In a blog post published Thursday, Zuckerberg stated that the company’s organisational structure will not change, but how it presents financial results would. “We aim to report on two operational categories starting with our fourth-quarter results in 2021: Family of Apps and Reality Labs,” he stated. “On December 1, we plan to begin trading under the new stock symbol MVRS, which we have reserved. The announcement today has no bearing on how we utilise or exchange data.”

Facebook has been the subject of intense scrutiny in recent weeks, following revelations based on damning internal documents provided to the Wall Street Journal by whistleblower Frances Haugen, which revealed, among other things, that Facebook’s Instagram platform had become a toxic environment for teenagers, particularly girls. Antitrust officials are pressing for the company’s dissolution, as public confidence in the social media platform is waning.

Multiple news sites released further details about the internal papers that were submitted to the Securities and Exchange Commission then redacted and presented to Congress on Monday.

They revealed Facebook’s experts’ significant worry that its user base was ageing and that the network was losing traction among younger generations. The documents also revealed that Facebook used a tiering mechanism to determine which nations would benefit from increased election security.

Early conjecture pointed to a rebranding similar to Google’s announcement in 2015 that it will become one of several firms under the umbrella of a bigger holding company known as Alphabet. The original “blue” app would be merged with Instagram, WhatsApp, and Oculus under Facebook’s parent corporation.

Facebook’s famous thumbs-up HQ sign has been replaced with Meta

Leave a Reply

Your email address will not be published. Required fields are marked *