Breaking: Facebook Changes Corporate Name

Facebook has changed its corporate name to Meta as part of a major rebrand it was announced on Thursday.

The company said it would better “encompass” what it does, as it broadens its reach beyond social media into areas like virtual reality (VR).

The change does not apply to its individual platforms, such as Facebook, Instagram and Whatsapp, only the parent company that owns them.

The move follows a series of negative stories about Facebook, based on documents leaked by an ex-employee.

Frances Haugen had accused the company of putting “profits over safety”.

In 2015, Google restructured its company calling its parent firm Alphabet, however, the name has not caught on.

‘Reflects who we are’

Facebook boss Mark Zuckerberg announced the new name as he unveiled plans to build a “metaverse” – an online world where people can game, work and communicate in a virtual environment, often using VR headsets.

He said the existing brand could not “possibly represent everything that we’re doing today, let alone in the future”, and needed to change.

“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 told a virtual conference.

The company also unveiled a new sign at its headquarters in Menlo Park, California, on Thursday, replacing its thumbs-up “Like” logo with a blue infinity shape.

Mr Zuckerberg said the new name reflects that over time, users will not need to use Facebook to use the company’s other services.

Facebook said in a blog post that it intends to start trading it shares under the new stock ticker MVRS from 1 December.

Source: BBC

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