Key Sentence:
- In the course of a complete rebranding, Facebook changed its company name to Meta.
- The company says it would be better to “cover-up” its activities as it extends beyond social media to areas like virtual reality (VR).
The changes do not apply to individual platforms such as Facebook, Instagram. And Whatsapp, but only to the parent company to which they belong. The move follows a series of negative stories on Facebook based on documents leaked by former employees. For example, Francis Haugen accused the company of placing “profits above safety.”
In 2015, Google restructured its business and renamed its parent company Alphabet, but it was not required.
What is Metaverse?
Facebook CEO Mark Zuckerberg announced the new name when he announced plans to build the Metaverse. He said existing brands “may not represent everything we do today, much less in the future” and need to change. Media signatures set the record straight: The moment when Facebook was targeted. “I hope that over time we will see ourselves as a company with a metaverse. And I want to strengthen our work and identity in what we build,” he told a virtual conference.
“We now view and report on our business in two different segments, one for our app family and one for our work on future platforms.
“And as part of that, it’s time to introduce the company to a new brand that embraces everything. We do and reflects who we are and what we want to build. The company also unveiled a new sign Thursday at its Menlo Park, California headquarters. That replaces the Like logo with a blue borderless shape.
Zuckerberg said the new name reflects that users won’t have to use Facebook to use the company’s other services over time. To outsiders, the Metaverse may seem like a VR version, but some believe it could be the future of the internet. Instead from sitting in front of a computer. People at Metaverse can use headphones to enter a virtual world that connects all possible digital environments.
We hope that the virtual world can be used for almost anything from work to games to concerts to communicating with friends and family. Facebook has announced that it will start trading its shares under the new stock ticker MVRS beginning December 1.