Facebook plans to rebrand itself with a new name: Report

The planned rebranding is not expected to affect the original Facebook social media service and app but it will be positioned under a new parent company which will also oversee Facebook’s other entities such as WhatsApp, Instagram, Oculus, and more.

Social Media giant Facebook Inc. is reportedly in talks to rebrand itself with a new name as per sources close to the company. The matter will be brought up by Facebook’s co-founder and CEO Mark Zuckerberg at the company’s Connect conference slated to be held news week on October 28.

Though Verge has reported that the name change could be announced sooner.

Facebook’s bid to rebrand itself comes in light of the recent controversy that has surrounded the company’s social media platform following whistleblower Frances Haugen leaking internal documents which led to a probe on the tech giant last month. 

The planned rebranding is not expected to affect the original Facebook social media service and app but it will be positioned under a new parent company which will also oversee Facebook’s other entities such as WhatsApp, Instagram, Oculus, and more. With this, the company plans to branch out into the technology market to create more innovative products and services for users. 

CEO Mark Zuckerberg had previously shared his vision for the company and plans to lay the groundwork for a more prominent focus on the next generation of technology apart from its social media services. He had stated earlier that Facebook’s future will be built on the concept of a Metaverse, in which the users will live, work and exercise in a virtual universe. 

Zuckerberg expects people’s outlook towards Facebook to change in the coming years, with it being recognised more as a metaverse company than a social media enterprise.  “In many ways, the metaverse is the ultimate expression of social technology,” he said earlier in July. 

Gearing up for its expansion into the metaverse market, Facebook set up a dedicated metaverse team earlier this summer. More recently, it declared that the head of AR and VR, Andrew Bosworth, will be promoted to Chief Technology Officer and just a few days prior, Facebook disclosed its plans to hire 10,000 more employees to work on the metaverse in Europe.

 

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