Facebook plans to rename the company to a new name
Facebook, which has come under fire from regulators and lawmakers for its business practices, plans to rebrand itself next week that reflects its focus on building metaverses.
It seems that the matter of changing the name is coming. But it can be detected sooner. CEO Mark Zuckerberg plans to speak about it at the company’s annual Connect conference on October 28.
The move is meant to signal the tech giant’s ambition to be known for more than social media and all the problems that ensue.
And the rebranding would likely put the Facebook blue app as one of many products affiliated with a mother company that oversees groups like Instagram, WhatsApp, Oculus and more.
The company has more than 10,000 employees building consumer devices like augmented reality glasses that Zuckerberg believes could be as ubiquitous as smartphones.
“Over the next several years, we’re transitioning from a social media company to a metaverse company,” he said in July.
And the rebranding could separate the future work that Zuckerberg is focused on from the intense scrutiny the company is currently under over the way its social platform operates.
A former employee, Frances Hogan, recently leaked a batch of internal documents to the Wall Street Journal and testified before Congress.
Antitrust regulators in the United States and elsewhere are trying to break up the company, and public confidence in how the company does business has waned.
Read also: Facebook wants to hire 10,000 people to build Metaverse
Facebook wants to be known for building metaverses
It is noteworthy that Facebook is not the first well-known technology company to change its name as its ambitions expand. In 2015, Google completely reorganized itself under a holding company called Alphabet.
Through this move, she wanted to indicate that it was no longer just a search engine. But a sprawling group includes companies making driverless cars and health tech.
Snapchat rebranded to Snap in 2016, the same year it started calling itself the camera company and introduced its first Spectacles.
And the possible name could have something to do with Horizon, the name of the as-yet-unreleased VR version that the company has developed over the past few years to rival the Roblox platform.
This app was recently renamed Horizon Worlds shortly after the company introduced a version for workplace collaboration called Horizon Workrooms.
Regardless of Zuckerberg’s comments, the company is working to lay the groundwork for a greater focus on the next generation of technology. Last summer I formed a dedicated Metaverse team.
It announced the promotion of Andrew Bosworth, President of AR and VR, to the position of Chief Technology Officer. It also announced plans to hire an additional 10,000 employees to work for Metaverse in Europe.
The company has aggressively promoted the idea of ​​Metaverse in recent weeks. But metaverse is still a poorly understood concept.
The term was originally coined by science fiction novelist Neil Stephenson. This is to describe a virtual world to which people escape from a miserable real world.
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