The social media giant is planning on changing its name next week to reflect its focus on building the metaverse. The announcement will likely be made on the 28th of October during Facebook Connect, the company’s annual VR conference. This is to rebrand Facebook as more than just a social media company and all its scandals. The company has also doubled down on its commitment to build the metaverse by promising 10,000 jobs in the EU to help in its development.
The rebranding will likely reposition Facebook as the parent company of Instagram, WhatsApp, Oculus, and more. This is similar to what Google did when it reorganized under a single holding company called Alphabet. This indicated that they are not just a search engine company but are also working on other projects. This information comes through courtesy of Verge, whose source is someone with direct knowledge of the matter.
This will also help separate the company’s other projects from Facebook’s constant criticism of its functioning. Zuckerberg’s previous statements make more sense as he repeatedly stated that Facebook would become a metaverse company. He previously said that “over the next several years, we will effectively transition from people seeing us as primarily being a social media company to being a metaverse company.”
Facebook’s possible new name
According to Verge, there’s a slight possibility that the new name could be something related to Horizon. Horizon was the name of the VR app that Facebook has been developing for the past few years. The name of the app has since been changed to Horizon Worlds. The company also demoed a version of the workplace collaboration called Horizon Workrooms.
The company is currently under heavy scrutiny after a whistleblower leaked some internal documents to the WSJ. A former employee turned whistleblower, Frances Haugen also testified before Congress against the company. This has led to many lawmakers criticizing the company. The company is already under investigation due to antitrust regulators in the US and EU.
List of Facebook Owned Apps and Companies
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