Facebook founder and CEO, Mark Zuckerberg has announced that it is changing the name of its company to “Meta” — edging closer to its metaverse future.
The announcement was made at the company’s annual Connect event. While announcing the new name, Zuckerberg said in a statement, “We’ve learned a lot from struggling with social issues and living under closed platforms, and now it is time to take everything that we’ve learned and help build the next chapter.”
He added, “I am proud to announce that starting today, our company is now Meta. Our mission remains the same, still about bringing people together, our apps and their brands, they’re not changing.”
In case you were wondering what’s really going on, Facebook is just changing the name of its parent company (which was also Facebook) to Meta. Under Meta, you’ll have all of Facebook’s products — Facebook, Instagram, WhatsApp and Oculus — similar to Alphabet and Google.
Zuckerberg is in charge of the Twitter handle @meta and meta.com. Going on the latter takes you to Facebook’s welcome page, which also highlights the changes that are coming along the way.
In a blog post, Zuckerberg has also highlighted that there will be no changes to the company’s corporate structure, however, there will be changes to its financial results. He said in a statement, “Starting with our results for the fourth quarter of 2021, we plan to report on two operating segments: Family of Apps and Reality Labs. We also intend to start trading under the new stock ticker we have reserved, MVRS, on December 1. Today’s announcement does not affect how we use or share data.”
Just last week we saw reports that highlighted leaked plans of the social media giant working on rebranding plans after a bunch of scandals shed light on the dark side of the social media platforms, especially after Frances Haugen, shared how the social media platform drives engagement with utter disregard for the mental health of its users.