20/10/2021
Facebook is planning to rebrand itself with a new name focused on the metaverse, the Verge reported on Tuesday, as the tech giant comes under fire from regulators around the world over its business practices.
The company plans to announce the new name next week, the Verge reported, citing a source with direct knowledge of the matter. Facebook wants to be known for more than social media, according to the tech publication.
Facebook (FB) does not comment on rumor or speculation, a company spokesperson said in response to a question about the potential name change.
In addition to its flagship social media network, Facebook also owns Instagram and WhatsApp. A name change could position the three mega platforms under an umbrella brand, similar to the structure used by Google, which sits under parent company Alphabet.
Facebook to hire 10,000 people in EU to build the & #39;metaverse& #39;
Facebook to hire 10,000 people in EU to build the 'metaverse'
The name change may reflect Facebook's direction. The metaverse refers to efforts to combine virtual and augmented reality technologies in a new online realm.
The idea is to create a space similar to the internet, where users (via digital avatars) can walk around and interact with one another in real time. In theory, users could sit around a virtual meeting table with remote colleagues, and then walk over to a virtual Starbucks to meet up with a friend.
Source: London (CNN Business)