Big News: Facebook changes its name to Meta as a major rebranding strategy

Facebook has just announced during a Facebook Connect that it has rebranded itself with a new name as Meta. The Facebook (name) we have become familiar with is about to be changed forever.

The company reported that it would emphasize on what it does better. This would stretch its reach beyond the world of social media into domains like virtual reality.

As per a BBC Report, we may still find things unchanged for the individual platforms such as Facebook App, Whatsapp and Instagram. It’s only the parent company that will be rebranded as Meta.

However, when we checked company’s Twitter handle, we found that the website address has been changed to meta.com

You must be wondering, why is this needed? We all know it by its extraordinarily famous name and over 2.89 Billion users worldwide may not like the idea. The step follows a series of negative feedback about the social media giant, mostly based on files leaked by an ex-employee.

Frances Haugen, the former Facebook employee acted as a whistleblower and threw thousands of Facebook internal documents to The Wall Street Journal and Securities and Exchange Commission in 2021.

According to the studies, the organization is aware of many of the problems caused by its apps and services, but either does nothing about them or struggles to remedy them. Over the next few weeks, more documents are scheduled to be given on a daily basis. 

In a call with analysts on Monday, Zuckerberg aggressively denied the claims and criticisms made in the stories based on Haugen’s materials.

On Thursday, Facebook made the big announcement of changing its name to Meta.

The rumours were in the air lately but we heard an official confirmation when the announcement came during Facebook Connect augmented and VR conference. With the new name the company tries to reflect its agenda of moving beyond the social media business.

Some are also saying that the new name ‘Meta’ is influenced by a science fiction term metaverse (describes the idea of working and playing in a virtual world).

Mark Zuckerberg’s Announcement During Facebook Connect

During the Facebook Connect conference, Mr. Zuckerberg said, “In the present world we are known as a social media company. However, in our DNA, we are an organization that develops technology to connect people. Just like we started with Facebook, Metaverse is the next frontier in social networking.”

Change In Facebook Stock Ticker

During the announcement, the company also informed that its stock ticker will be changed from FB to MVRS, effective December 1.

With Metaverse, we hope to reach a billion people in the upcoming decade. We have planned to invest billions of dollars in digital commerce, and to assist in job creations for millions of developers and creators.

Mark Zuckerberg says in a letter written on Thursday.

The company also declared that it will be spending around $10 billion by the upcoming year building technology infrastructure for Metaverse.

Facebook’s Upcoming Projects

In addition, Meta introduced Project Cambria, a new virtual reality headgear. According to the company in a blog post, the device will be a high-end product with a higher price tag than the $299 Quest 2 headset. According to Zuckerberg, Project Cambria will be unveiled next year. 

Project Nazare is the code name for Meta’s first completely AR-capable smart eyeglasses. In a blog post, the business stated that the glasses are “still a few years away.” “We still have a mile to go with Nazare,” Zuckerberg stated, “but we’re making good progress.”

Let us know how you find the new name ‘Meta’ by reaching out the comment section below. For more such articles click vrikah.com.