Social media giant Facebook reportedly plans to change its company name next week to focus on the company’s development of the “metaverse” virtual world. The move could also be spurred by recognition by the Masters of the Universe that the Facebook name has been tarnished by a tidal wave of scandals.
The Verge reports that according to sources with direct knowledge of the situation, Facebook plans to completely rebrand the company next week. The social media giant reportedly plans to change its company name to focus on its development of the “metaverse” online world.
It’s expected that CEO Mark Zuckerberg will discuss the name change at the company’s annual Connect conference on October 28, but could announce the change sooner. The move is reportedly part of Facebook’s efforts to display its ambition outside of social media.
The Facebook app will still exist, but will act as a product under a parent company, like Instagram, WhatsApp, and Oculus are currently to Facebook. Facebook reportedly has more than 10,000 employees developing consumer hardware such as augmented reality glasses that Zuckerberg believes will soon become as important and commonly used as the modern smartphone.
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