Facebook plans to rebrand 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 it may be revealed sooner and it intends to signify the tech giant’s goal to be recognized for more than social networking and all of its character flaws. The blue Facebook app would most likely be positioned as one of the several products under a parent corporation that oversees groups such as Instagram, WhatsApp, Oculus, and others.
A rebranding may also help to further distance Zuckerberg’s futuristic work from the tremendous scrutiny Facebook is already under for the way its social network functions now.
Facebook is not the first well-known tech company to transition its name as its aspirations grow. Google reformed fully under the Alphabet holding company in 2015, partially to emphasize that it was no longer just a search engine, but a vast conglomerate with firms producing autonomous vehicles and health tech. In 2016, Snapchat was renamed Snap Inc., the same year it began referring to itself as a “camera company” and unveiled its first set of Spectacles camera glasses.
The new Facebook business name is a carefully guarded secret within the firm and is not widely known, even within the company’s entire top officials.
Apart from Zuckerberg’s remarks, Facebook has been slowly building the framework for a larger emphasis on next-generation technologies. It established a specialized metaverse team this past summer. It just announced that Andrew Bosworth, the AR and VR head, will be promoted to chief technology officer. And, only a few days ago, Facebook announced intentions to hire 10,000 additional people in Europe to work on the metaverse.
According to Zuckerberg, 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. And I think it’s going to be the next big chapter for our company too, really doubling down in this area.”
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