Social media giant Facebook The Verge’s report said Tuesday that it may be planning to rename it with a new name next week, citing sources who are directly aware of the issue. Facebook CEO Mark Zuckerberg The name change will be discussed at the company’s annual Connect meeting on October 28, but Verge reported that it could be announced sooner.
In response, Facebook said it did not comment on “rumors and speculation.” The news is coming when the company is facing increased US government oversight of business practices. Congress with Facebook.
Due to the rebranding, Facebook’s social media apps will be positioned as one of many products under the parent company, which will also oversee groups such as: Instagram, WhatsApp, Oculus, etc., Verge reports have been added. The report also stated that his new name was a tightly-kept secret within the wall and was not widely known even among its full-fledged senior leaders.
In Silicon Valley, it’s not uncommon for businesses to change their names to expand their services.
Google founded Alphabet as a holding company in 2015, overseeing a variety of ventures beyond the search and advertising business, from self-driving car units and health technology to providing remote Internet services.
The report also reflects Facebook’s focus on building the so-called Metaverse, an online world where people can move and communicate in virtual environments using a variety of devices.
Facebook has invested heavily in virtual reality (VR) and augmented reality (AR) and plans to connect nearly 3 billion users across multiple devices and apps.
The company also announced on Tuesday plans to create 10,000 jobs in the European Union over the next five years to help build the Metaverse.
Zuckerberg has been discussing the Metaverse since July, and the topical term, first created in a dystopian novel 30 years ago, has been referenced by other tech companies such as Microsoft. “It’s going to be a big focus, and I think it’s going to be a big part of the next chapter on how the Internet evolves after the mobile Internet,” Zuckerberg told The Verge earlier.
(With input from Reuters)
Will Facebook change its name?The report suggests that companies may shift their focus to the “metaverse.”
Source link Will Facebook change its name?The report suggests that companies may shift their focus to the “metaverse.”