As part of a significant redesign, Facebook has changed its corporate name to Meta.
As it expands its influence beyond social media into areas such as virtual reality, the firm claims it will better “encompass” what it does (VR).
The shift solely affects the parent business, not the individual platforms, such as Facebook, Instagram, and Whatsapp.
Following a succession of unfavorable headlines about Facebook based on papers obtained by an ex-employee, the company has taken this step.
Frances Haugen has charged the firm of prioritizing “earnings before safety.”
Google reorganized its corporation in 2015, renaming its parent company Alphabet, but the name has yet to catch on.
Mark Zuckerberg, the CEO of Facebook, revealed the new name alongside ambitions to create a “metaverse,” an online world where people may game, work, and chat in a virtual environment, frequently utilizing virtual reality goggles.
He said that the current brand couldn’t “reasonably represent all that we’re doing now, never alone in the future,” and that it needed to be updated.
“I hope that we be regarded as a metaverse firm over time,” he said at a virtual conference. “I want to anchor our work and our identity on what we’re striving towards.”
“We’re now looking at and reporting on our company as two separate parts, one for our app family and the other for our efforts on future platforms.”
“As part of this, we need to create a new corporate identity that encompasses all we do, reflects who we are, and reflects what we aim to achieve.”
On Thursday, the firm unveiled a new sign at its Menlo Park headquarters, replacing the thumbs-up “Like” emblem with a blue infinity form.
Mr. Zuckerberg explained that the new name reflects the fact that consumers would no longer be required to use Facebook to access the company’s other services in the future.
The word “meta” is derived from a Greek word that means “beyond.”
To the untrained eye, a metaverse may appear to be a virtual reality simulation, yet some believe it is the internet’s future.
People in a metaverse may utilize a headset instead of a computer to access a virtual world that connects all kinds of digital surroundings.
It is envisaged that the virtual world would be utilized for a variety of purposes, including work, recreation, and concerts, as well as socializing with friends and family.
From December 1, Facebook plans to begin trading its shares under the new stock symbol MVRS.