On Tuesday, CEO of Facebook Mark Zuckerberg said the company is planning to announce the company’s name at the annual Connect conference on October 28.
Facebook is planning to rebrand the company name next week. Soon, we can see Facebook, Instagram, WhatsApp, Oculus, and their other operating services operating under a new parent company.
According to a report from The Verge, the rebranding is focused on creating a metaverse.
Metaverse is a portmanteau word of prefix meta that means beyond and the universe.
Here, the metaverse refers to the shared virtual world environments where people can access those environments through the internet. In short, it’s a collection of digital spaces that offers a real-like experience with the help of either virtual reality or augmented reality.
This means that the tech giant will no longer be recognized as just a social media platform.
Recently, Facebook announced its plans to hire 10K people in the European Union to build the metaverse.
Additionally, Facebook in its blog post said that the metaverse has the capabilities to unleash accessing creative, social, and economic opportunities and the Europeans will be molding the metaverse right from the beginning.
Meanwhile, Facebook is not the first renowned tech company that will rebrand its name as the company’s ambitions expand. Back in 2015, Google also reorganized completely itself under its parent company, Alphabet. The rebrand was also, partly an indication that Google is more than just a search engine but a sprawling conglomerate with companies manufacturing self-driving cars and health tech.
Additionally, Snapchat, a popular messaging app too rebranded the company to Snap Inc. back in the year 2016. In the same year, Snapchat announced itself as the camera company while releasing its pair of Spectacles camera glasses.
The new Facebook company name is a closely guarded secret within its walls, cited by The Verge.
Metaverse is said to be the next big thing on the internet, with experts claiming that it will be ubiquitous as smartphones in the near future.
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