Facebook is set to rebrand the company with a new name
According to a person with firsthand knowledge of the situation, Facebook plans to alter its corporate name next week to reflect its focus on developing the metaverse.
The upcoming name change, which CEO Mark Zuckerberg wants to discuss at the company’s annual Connect conference on October 28th but may reveal sooner, is intended to signify the internet giant’s goal to be recognised for more than social networking and all of its faults.
The blue Facebook app would most likely be positioned as one of several products under a parent corporation that oversees groups such as Instagram, WhatsApp, Oculus, and others.
A Facebook spokesman refused to make a comment as regards this article.
Facebook currently employs over 10,000 people who work in the development of consumer devices such as augmented reality glasses, which Zuckerberg hopes will one day be as commonplace as smartphones.
In July, he told The Verge that “we will successfully shift from people viewing us as primarily being a social network business to being a metaverse company” over the next several years.
A rebranding is predicted to help further distance Zuckerberg’s futuristic work from the tremendous scrutiny Facebook is already under for the way its social network functions now.
Frances Haugen, a former employee who now is a whistleblower, recently released a cache of incriminating internal papers to The Wall Street Journal and testified before Congress about them.
Antitrust officials in the United States and abroad are attempting to break up the corporation, and public faith in how Facebook does business is eroding.
According to my sources, the new Facebook corporate name is a carefully guarded secret within the firm’s gates and is not generally recognised, even among its complete top leadership.
Horizon, the name of the still-unreleased VR version of Facebook-meets-Roblox that the firm has been building for the past few years, maybe a viable moniker.
The app’s name was recently changed to Horizon Worlds, shortly after Facebook demonstrated Horizon Workrooms, a version for workplace collaboration.
Apart from Zuckerberg’s remarks, Facebook has been slowly building the framework for a larger emphasis on next-generation technologies. It established a specialised metaverse team recently, precisely this past summer.
It just announced that Andrew Bosworth, the head of AR and VR, will be elevated to chief technology officer. And, only a few days ago, Facebook announced its intending plans to hire 10,000 additional people in Europe to work on the metaverse.
This summer, Zuckerberg told The Verge’s Casey Newton that the metaverse is “going to be a huge priority, and I think that this is really going to be a big part of the next chapter for the way that the internet grows after the mobile internet.”
“And I believe that will be the next great chapter for our firm as well, really doubling down in this area.”
Complicating matters, even though Facebook has been actively marketing the concept of the metaverse in recent weeks, it is still not widely understood.
Neal Stephenson, a sci-fi author, invented the phrase to depict a virtual environment where people may escape from a dismal, real reality.
It’s now being embraced by one of the world’s largest and most contentious corporations, which will have to justify why its own virtual world is worth exploring.