According to reports, Facebook plans to change its name in order to be more focused on the metaverse
According to The Verge, Facebook plans to rebrand with a new name in order to concentrate on the building of the metaverse.
According to The Verge, CEO Mark Zuckerberg will announce its new name at Connect's annual conference on October 28. However, it may announce the name sooner than that.
Facebook announced Sunday that it will recruit 10,000 European jobs over the next five-years to build the metaverse, which the company considers a key part of its future.
A month ago, the company announced that Andre Bosworth (head of AR and VR) will be promoted as chief technology officer. Facebook already employs more than 10,000 people who create consumer hardware such as AR glasses, which Zuckerberg believes will become as common as smartphones.
Zuckerberg stated in July that Facebook's future lay in the virtual universe, where users will live, work, and play.
Facebook's rebranding is happening at a time when it is being criticized for a variety of scandals, including internal documents that were leaked by Frances Haugen, a whistleblower, who testified before Senate Committee on Commerce, Science, and Transportation. The U.S. government is still examining Facebook for antitrust violations.
A Facebook spokesperson stated that they don't comment on speculation or rumors.
