Facebook Company rebranded as Meta
As part of a major rebrand Facebook has changed its corporate name to “Meta”.
The company said it would “cover” what it does better as it expands its reach beyond social media in areas like virtual reality (VR).
The change does not apply to your individual platforms, such as Facebook, Instagram, and WhatsApp, only to the parent company that owns them.
The move follows a series of negative stories about Facebook, based on documents leaked by a former employee.
Frances Haugen has accused the company of putting “profit before safety”.
Facebook boss Mark Zuckerberg announced the new name when unveiling plans to build a “metaverse” – an online world where people can play, work and communicate in a virtual environment, often wearing virtual reality headsets.
He said the existing brand could not “possibly represent everything that we are doing today, let alone in the future”, and needed to change.
“Over time, I hope that we will be seen as a meta-reverse company and I want to anchor our work and our identity in what we are building,” he said in a virtual conference.
“We are now analyzing and reporting on our business as two different segments, one for our family of applications and one for our work on future platforms.
“And as part of this, it is time for us to embrace a new company brand that encompasses everything we do, reflects who we are and what we hope to build.”
The company also unveiled a new sign at its headquarters in Menlo Park, California, on Thursday, replacing its thumb-up “Like” logo with a blue infinite shape.
Zuckerberg said the new name reflects that over time, users will not need to use Facebook to use the company’s other services.
The word “Meta” comes from the Greek word for “beyond.”
To an outsider, a metaverse may seem like a version of virtual reality, but some people believe it could be the future of the internet.
Instead of being on a computer, people in a metaverse can use a headset to enter a virtual world that connects all kinds of digital environments.
The virtual world is expected to be usable for virtually anything from work, play, and concerts, to socializing with friends and family.
Facebook said it intends to start trading its shares under the new ticker MVRS starting December 1.