Facebook Inc has changed its name to Meta, the firm announced on Thursday, in a rebranding that emphasises the creation of the “metaverse,” a shared virtual world that the company believes will succeed the mobile internet. Facebook’s decision to change its name to Meta underscores the company’s belief in its ability to expand beyond its namesake social-media platform.
The rebranding is intended to demonstrate how Facebook CEO Mark Zuckerberg is restructuring the firm around the metaverse, which he sees as a significant growth area that can also attract younger people.
“The next platform will be even more immersive – an embodied internet in which you are immersed in the experience rather than merely viewing it.” This is what we call the metaverse, and it will affect every product we create.” In a statement, Zuckerberg stated. “A sense of presence — as if you’re right there with another person or in another place — will be the defining trait of the metaverse.” The ultimate goal of social technology is to feel fully present with another person. “It’s not about spending more time in front of a screen; it’s about making the time we already spend on screens better,” he continued. “Right now, our brand is so firmly attached to one product that it can’t reasonably represent everything we’re doing today, let alone in the future,” the Facebook CEO said.
“I’m delighted to disclose that our company is now Meta,” said Zuckerberg, “to represent who we are and the future we aim to build.” Mark Zuckerberg outlined ambitions to create a “metaverse” – an online world where individuals may game, work, and chat in a virtual environment, frequently utilising virtual reality headsets – when he introduced the new name.
On Thursday, the firm unveiled a new sign at its Menlo Park headquarters, replacing the thumbs-up “Like” emblem with a blue infinity form. “We’re now looking at and reporting on our company as two separate parts, one for our app family and the other for our efforts on future platforms.” As part of this, we need to create a new corporate identity that encompasses all we do, reflects who we are, and reflects what we aim to achieve.”
The new name, which comes from the Greek word for “beyond,” represents the fact that there is always more to build, according to Zuckerberg. He also stated that the new name reflects the fact that consumers will no longer be required to use Facebook to access the company’s other services in the future. The company, which has made significant investments in augmented and virtual reality, claims that the transition would unify its various apps and technology under one unified brand. It stated that its corporate structure would not be altered. The tech behemoth, which has 2.9 billion monthly users, has been under increased scrutiny from lawmakers and regulators around the world in recent years. In the most recent controversy, former Facebook employee and whistleblower Frances Haugen disclosed information that she claimed indicated the business prioritised profit over user safety. In recent weeks, Haugen has testified before a US Senate subcommittee as well as UK parliamentarians. The records, according to Zuckerberg, are being exploited to construct a “false picture.”
On Thursday, Facebook shares closed 1.5 percent higher at $316.92.
During Connect, Facebook revealed a series of new AR and VR product improvements, including its own pair of smart glasses with Ray-Ban. People using the company’s Oculus VR headset could use Facebook Messenger to call friends, and they could invite others to a communal version of their home called “Horizon Home.”
People connecting as avatars and being transported to digital replicas of various places and historical periods were also shown in video demos by Zuckerberg. The metaverse, he argued, would have to be created with security and privacy in mind.