Facebook’s name changed to Meta as it rebrands

16:29, 29 October 2021
Facebook’s name changed to Meta as it rebrands Photo:

The CEO of Facebook Mark Zuckerberg said that the company’s new name is Meta as it attempts to illustrate the company’s plans to grow from a mostly social media company to something bigger.

“From now on, we’re going to be the metaverse first, not Facebook first. Our brand is so tightly linked to one product that it can't possibly represent everything we're doing today, let alone the future," Zuckerberg said at the company's annual Connect conference meeting. 

The company’s stock exchange ticker will also change as now it will be MVRS.

The company is planning to focus on virtual reality where human will interact not only through messages but through their avatars.

Facebook’s main current products like WhatsApp and Instagram will not be a part of the Facebook Reality Labs which is the division that will mostly work on the metaverse.

The rebranding came after the company’s former product manager France Haugen leaked many documents that revealed sensitive information about the company.

Among the information that was leaked is the fact that Facebook does understand the negative impact Instagram has on teens but still refuses to change its model puting revenue above all. 

Zuckerberg said that there is no connection between the leak and the rebranding into the metaverse.

"Even though I think some people might want to make that connection, I think that’s sort of a ridiculous thing," he said. 

"If anything, I think that this is not the environment that you would want to introduce a new brand in,” he added.