The name Facebook Inc. has been known for over a decade. But recently, something has changed. The company has decided to rebrand itself as Meta and the reason for doing this is very interesting. It is to reflect the company’s new vision of how the next generation of social networks will work. It is also to indicate that it is more than just a social network. So why does Facebook want to change its name to Meta? Well, we’re here to give you all the details on Meta.
Facebook Inc. is Now Meta Platforms Inc
On Thursday, at Facebook’s annual AR/VR conference, Facebook CEO Mark Zuckerberg announced the social media giant will change the name of its holding company to Meta.
Mr Zuckerberg said: "From now on we are going to be Metaverse first, not Facebook... I hope that people come to know the Meta brand and the future that we stand for".
The parent company, Meta, will encompass Facebook as well as its other brands, such as Instagram, WhatsApp, and the virtual reality brand Oculus.
Zuckerberg also confirmed that the company will be changing its stock ticker from ‘FB’ to ‘MVRS’.
Why Has Facebook Changed its Name to Meta?
During the virtual event last night, CEO Zuckerberg said "Right now, our brand is so tightly linked to one product that it can't possibly represent everything that we're doing today, let alone in the future... It is time for us to adopt a new company brand to encompass everything that we do, to reflect who we are and what we hope to build".
The move is part of Facebook's plan to make the company more relevant in the future. The company is already in the process of becoming a Metaverse company. Metaverse is a vision of a shared virtual world where people can meet, work and play.
Mr Zuckerberg believes that the metaverse will be the successor of the mobile internet. “We’ll be able to feel present – like we’re right there with people no matter how far apart we actually are,” he said. Take a look at the Facebook Meta website to find out what it has in store.