According to a source with firsthand knowledge of the situation, Facebook plans to alter its corporate name next week to reflect its focus on developing the metaverse.
The upcoming name change, which CEO Mark Zuckerberg plans to discuss at the company’s annual Connect conference on October 28th but may reveal sooner, is intended to signify the internet giant’s goal to be recognized for more than social networking and all of its faults. The blue Facebook app would most likely be positioned as one of several products under a parent corporation that oversees groups such as Instagram, WhatsApp, Oculus, and others. A Facebook spokesman declined to comment for this article.
Facebook now employs over 10,000 people in the development of consumer devices such as augmented reality glasses, which Zuckerberg hopes will one day be as commonplace as smartphones. In July, he told The Verge that “we will successfully shift from people viewing us as primarily being a social network business to being a metaverse company” over the next several years.
Facebook is not the first well-known technology business to alter its name as its aspirations increase. Google restructured fully under the Alphabet holding company in 2015, partially to emphasize that it was no longer just a search engine, but a vast conglomerate with firms producing autonomous vehicles and health tech. In 2016, Snapchat was renamed Snap Inc., the same year it began referring to itself as a “camera company” and unveiled its first set of Spectacles camera spectacles.
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