As part of a major rebrand, Facebook changes its corporate name to Meta.
It would way better “envelop” what it does because it broadens its reach beyond social media into zones like virtual reality (VR), the company said. The alter does not apply to its individual platforms, such as Facebook, Instagram, and WhatsApp, only the parent company that possesses them.
The move takes after a series of negative stories around Facebook, based on archives spilled by an ex-employee.
Frances Haugen has charged the company with putting “benefits over safety”. In 2015, Google restructured its company calling its parent firm Alphabet, however, the name has not caught on.
Mark Zuckerberg announced the new name as he revealed plans to build a “metaverse” – an internet world where individuals can game, work, and communicate in a virtual environment, frequently using VR headsets.
He said the existing brand might not “possibly speak to everything that we’re doing nowadays, let alone in the future”, and required to change. “Over time, I hope that we are seen as a metaverse company and I want to stay our work and our identity on what we’re building towards,” he told a virtual conference.
Zuckerberg said the new title reflects that over time, users will not have to be compelled to use Facebook to use the company’s other services. To a pariah, a metaverse may look like a version of VR, but some people accept it could be the future of the internet.
Instead of being on a computer, people in a metaverse might use a headset to enter a virtual world connecting all sorts of digital environments. It is trusted the virtual world could be used for all intents and purposes anything from work, play, and concerts, to socializing with friends and family.
Facebook said in a blog post that it intends to start trading its shares under the new stock ticker MVRS fo From December 1st onwards.
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