spot_img

Facebook Renames to Meta in Major Rebrand

Share post:

The social media giant Facebook has changed its company name to Meta in a major shake-up.

Facebook said the new name better encapsulates what it is doing as it expands its reach beyond social media to areas such as virtual reality and the metaverse.

Facebook CEO Mark Zuckerberg unveiled the new name when he announced plans to build a “Metaverse” – an online world where people can play, work and communicate using VR headsets in a virtual environment.

“Over time, I hope that we are seen as a metaverse company and I want to anchor our work and our identity on what we’re building towards,” he said in a virtual conference.

The word “meta” is derived from the Greek word meaning “beyond.”

The rename does not apply to its individual platforms such as Facebook, Instagram and Whatsapp, but only to the parent company to which it belongs.

The renaming comes after a series of negative publicity on Facebook based on secret documents leaked by an ex-employee who later became a whistleblower.

Facebook intends to trade its shares under the new stock ticker MVRS from December 1.

For more information, you may view the original story from BBC.

Featured Tech Jobs

spot_img

SUBSCRIBE NOW

Related articles

Apple’s App Store ecosystem generate $1.1 Trillion in developer billings and sales in 2022

According to a study done by Analysis Group, the whole ecosystem of Apple's App Store earned $1.1 trillion...

Dell beats profit estimates in Q1

After a drop in demand, Dell exceeded earnings estimates in the first quarter, indicating a brighter future for...

Twitter’s algorithm shifts towards anger and hostility, study finds

New research by computer scientists from Cornell University and the University of California, Berkeley (UC Berkeley) uncovers major...

Fidelity reports plummeting Twitter value under Musk

According to investment company Fidelity, Twitter's valuation has dropped for the third time since Elon Musk took control...

Become a member

New, Relevant Tech Stories. Our article selection is done by industry professionals. Our writers summarize them to give you the key takeaways