According to The Verge, Facebook plans to change its name in order to better reflect Mark Zuckerberg’s goal to create a "metaverse." The change could be made as soon as next week.
The following is taken from the report:
CEO Mark Zuckerberg will announce the name change at the company’s annual Connect conference, October 28th. However, it could be revealed sooner. This is to show the tech giant's desire to be more than just social media and all its ills. The new branding would position the Facebook blue app as one of many products that is part of a parent company that oversees groups such as Instagram, WhatsApp, Oculus and others. Facebook spokesperson declined to comment on this story.
Mark Zuckerberg, Facebook's CEO, plans to change people's perceptions of Facebook. He doesn't want it to be limited to being a social media company. Instead, he wants it to "be a metaverse business." A whistleblower shared several documents within Facebook, prompting increased scrutiny of the company.
The rebrand could help Zuckerberg focus on his futuristic work and not be subject to the harsh scrutiny Facebook has placed on its current social media platform. Frances Haugen (a former employee who became a whistleblower) recently leaked a wealth of internal documents to The Wall Street Journal. She also testified before Congress about them.
It's unclear what Facebook's new brand and name could be. According to The Verge, even Facebook's top-ranking leaders aren't aware of the name. However, it is possible that it may have something to do "Horizon."
According to my sources, the name of the new Facebook company is kept a secret within its walls. It is not known by anyone outside its senior leadership. A possible name could have something to do with Horizon, the name of the still-unreleased VR version of Facebook-meets-Roblox that the company has been developing for the past few years.
Facebook's upcoming change is reminiscent of 2015, when Google was restructured under "Alphabet", its holding company which includes Google and its subsidiaries.
