- Facebook is changing its corporate name to Meta, but the name change itself isn’t enough to save it from the non-stop torrent of criticism.
- “Now we have a new North Star,” Zuck said during the company’s Oculus Connect event, “From now on, we are going to be Metaverse first, not Facebook first.”
- Facebook is trying to “divert the conversation from their current problems onto the metaverse, which is exciting and futuristic,” a senior partner at the consulting firm Vivaldi said.
Katie Canales from Insider writes:
“Facebook said Thursday it’s changing its corporate name to Meta.
“From now on, we’ll be metaverse first, not Facebook first,” CEO Mark Zuckerberg said during the company’s Oculus Connect event. “Over time, you won’t need to use Facebook to use our other services.”
The company will begin trading under the new stock ticker MVRS on Dec. 1, Facebook said in a press release.
The much-anticipated name change comes a week after The Verge first reported the company was rebranding to focus on its “metaverse” mission.
CEO Mark Zuckerberg first publicly announced in July that he wants Facebook to become a “metaverse company eventually.” Last week, the company said it would hire 10,000 people across Europe specifically to build out its metaverse project.
The metaverse is a virtual space where people can interact digitally while remaining tethered to the physical world.
Facebook’s main social app would exist underneath the new brand name, as would the rest of the company’s products, like Horizon and WhatsApp. It’s a bit like Google existing under the Alphabet umbrella…”
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