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Facebook Rebrand The Company With A New Name: Meta
Latest Updates MilkywayBlogs 29-Oct-2021 Comments (9) 11

Facebook Rebrand The Company With A New Name: Meta

Mark Zuckerberg is the CEO of Facebook, announced at the Connect event of his company that the new name of Facebook will be Meta. 

We are a company that builds technology to connect,” Zuckerberg said. “Together, we can finally put people at the center of our technology. And together, we can unlock a massively bigger creator economy. To reflect who we are and what we hope to build,” he added. 

He said that the company name ‘Facebook’ does not fully encompass everything. But the company does it now and is closely linked to a single product. “But over time, I hope we are seen as a metaverse company.”

Know Why Facebook is Rebranding to ‘Meta’

Mark Zuckerberg has Twitter handle meta.com and @meta which is now redirected to the Facebook welcome page outlining changes. This site previously was redirected to meta.org (a biomedical research discovery tool, a project of ‘Chan Zuckerberg Science Initiative’). It is the part of philanthropic arm Zuckerberg who co-founded in 2015, with his wife, Priscilla Chan.

What is Metaverse, and Do We Have to Care?

Facebook was under intense scrutiny after the revelations based on damning, provided in the Wall Street Journal’s internal documents by Frances Haugen, the whistleblower. They showed that Instagram owned by Facebook had become a harmful and toxic place for teenagers. Due to this antitrust regulators are pushing the company to be broken up. Public trust on social media is also flagging.

Former Sign of Facebook Now Read as ‘Meta Vjeran Pavic’ or ‘The Verge’

First, the Verge reported on 19th October. Rebranding is part of the efforts of the company that shift the gears away from being just a social media company. Zuckerberg plans to focus on building the ‘metaverse’. In the month of July, he said after several years. Facebook would “effectively transition from people seeing us as primarily being a social media company to being a metaverse company.”

Zuckerberg revealed in a blog post that the corporate structure of the company would not be changing. But it reports financial results. “Starting with our results for the fourth quarter of 2021, we plan to report on two operating segments: Family of Apps and Reality Labs” he explained.

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