Facebook, the world’s largest social media company, has finally revealed its much-awaited new name as ‘Meta’. Facebook Inc. co-founder and CEO Mark Zuckerberg announced this rebranding during the Connect Conference on Thursday (28-10-2021).
The new name echoes Zuckerberg’s vision and ambition to take the company beyond the realm of social media. Facebook’s new name Meta is inspired by the sci-fi term ‘metaverse’, a space where the physical and digital worlds converge. It outlines a broader vision of digital avatars of people working and playing in a virtual world.
Know more about Metaverse here.
In a 90-minute video presentation led by Mark Zuckerberg, he portrayed the company’s efforts to build out an immersive digital world known as the metaverse. In the Founder’s letter, the name change is described as ‘the next chapter’ for the company. “The next platform will be even more immersive — an embodied internet where you’re in the experience, not just looking at it. We call this the metaverse, and it will touch every product we build.”
He further describes it as ‘an embodied internet’. To quote his words, “The next platform will be even more immersive — an embodied internet where you’re in the experience, not just looking at it. We call this the metaverse, and it will touch every product we build.”
The rebranding has come in alignment with the early speculations that were engrossed on a change resembling Google’s 2015 rebrand when it announced ‘Google’ as one of the several companies under the larger holding company called Alphabet. “The original “blue” app would join Instagram, WhatsApp, and Oculus under a parent company”.
Zuckerberg further confirmed in the blog post that there won’t be any change in the company’s corporate structure, but there would be changes in how it reports financial results. They have plans to trade under the stock ticker MVRS from December.
The rebranding comes in the wake of the company’s scuffle amidst criticisms from lawmakers and regulators over its market power, its failure to protect users’ privacy, algorithmic decisions, and the policing of abuses on its platforms, incompetence to stop the spread of disinformation, and so on.
- Reddit Is Clearing Up Old Chats And Messages - July 13, 2023
- Toyota Debuts All-Electric Futuristic SUV Concept Under Its bZ Brand Umbrella - November 17, 2022
- Microsoft Announces Microsoft Dev Box Preview - August 16, 2022
