That was a bit predictable.
Getty Images
The company, which had earlier announced that it was considering changing its name in order to reflect its work on the metaverse, has now officially changed its name from Meta to Meta.
The news was announced by Mark Zuckerberg, CEO, late Thursday afternoon.
Today, we are introducing Meta which brings together our technologies and apps under a new brand. The company announced via Twitter that Meta is not owned or operated by any of the social media platforms.
Today, we are introducing Meta which brings together all of our apps and technologies under one company brand. Connect has more news about Connect and how we helped build the metaverse. https://t.co/6s3GKjWq4S Facebook Newsroom (@fbnewsroom) October 28, 2021
The metaverse will be a mix of online social experiences and physical world projections. Meta stated in a statement that it will allow you to share immersive experiences even when you are not together, and can do things you could never do together in the real world. It is the next generation in a long history of social technologies and it marks a new chapter in our company's history.
Related: Jack Dorsey responds to a Twitter user who compares Zuckeberg’s metaverse with a "dystopian dictatorship".
Zuckerberg called induction of metaverse the next chapter of the internet. This initiative comes after harsh criticism from policymakers, consumers and law enforcement against the company's regulatory practices.
The company stated that although Meta's announcement will not affect the companys corporate structure, beginning with Q4 2021, it will report financials on two separate entities, Family of Apps (and Reality Labs)
Facebook will also start trading under MVRS (it currently trades as FB) starting on December 1, 2021.
Facebook was launched in 2004 and revolutionized the way people communicate. According to the company, apps like WhatsApp, Instagram, and Messenger have empowered billions of people around the globe. Meta has moved beyond 2D screens to create immersive experiences such as augmented or virtual reality. This will help to build the next generation of social technology.
Facebook, Inc. rose to 3.80% on Thursday afternoon.
