Facebook to change name as part of company rebrand

Facebook is planning to rebrand the company
Photo by Nick Statt / The Verge

Facebook is planning to rebrand the company with a new name to focus on building the metaverse, according to a report by The Verge.

The Verge reported that the company’s founder and chief executive, Mark Zuckerberg, is preparing to talk about the name change at the annual Connect conference on October 28, but it could be unveiled sooner.

Under the plans, the tech giant would change the name of its holding company but not that of its blue Facebook app. As well as its founding site, the company also owns Instagram, WhatsApp, the virtual reality brand Oculus and more.

Facebook, which has the ambition to be known for more than social media, announced Sunday that it plans to recruit 10,000 jobs in Europe for the next five years to help build the metaverse the company sees as a key component of its future.

The company also announced a month ago that Andre Bosworth, the head of AR and VR, will be promoted to chief technology officer.

Facebook already has more than 10,000 employees who build consumer hardware like AR glasses that Zuckerberg believes will be as ubiquitous as smartphones.

In July, Zuckerberg said that the tech company’s future lies in the virtual metaverse, in which users will live, work and play inside.

The rebranding comes at a time when Facebook is facing criticism over a range of scandals, including a series of internal documents leaked by a whistleblower, Frances Haugen, who testified before the Senate Committee on Commerce, Science, and Transportation. Facebook is still under antitrust scrutiny by the U.S. government.

Source: News Agencies

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Staff writer, The Postdale Daily

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