Facebook Plans to Rebrand With a New Name …In Next Week
The rebranding would likely position Facebook’s social media app as one of many products under a parent company.
Verge reported on Tuesday, that Facebook is planning to rebrand itself with a new name next week to give back its concentrate on building the metaverse, the citing a source with direct knowledge of the subject.
Facebook (C.E.O) Chief Executive Officer Mark Zuckerberg thinks to talk about the name change at the company’s annual joining conference on Oct. 28, but Verge reported, it could be unveiled sooner.
The information comes at a time when the company is defying increasing U.S. government scrutiny over its business practices.Facebook to pay up to $14.25 million to settle U.S. employment discrimination claims
Lawmakers from both parties have abraded the company, embellishing the rising anger in Congress with Facebook.
A metaverse refers to shared virtual world environments, which people can access via the Internet.
Metaverse can refer to digital spaces, which are made more lifelike by the use of virtual reality or augmented reality.
The rebranding would position Facebook’s social media app as one of many products under a parent company.
The Verge report added , It will also oversee groups like Instagram, WhatsApp, Oculus and more.
It is not uncommon in the Silicon Valley for companies to switch their names as they bid to expand their services.
The move to rebrand will also effect Facebook’s focus on building the so-called metaverse, according to the report, an online world where people can use different devices to pass and convey in a virtual environment.
Earlier this week, Facebook reported plans to recruit 10,000 people in the European Union to construct the metaverse.
Facebook said in a post”The metaverse has the prospect to assist unlock access to latest social,creative, and economic chances. And Europeans will be forming it right from the begin”.
