Facebook Plans for Major Rebranding, Can Change Name Soon: Report

The US-based social media giant Facebook is planning to change its name. The Facebook name change might be done next week and it will depict the company's idea of building a metaverse. CEO Mark Zuckerberg is also reported to talk about Facebook changing name and elaborate on how the Facebook rebrand will facilitate its ambition of creating an advanced metaverse. 

Facebook has long been talking about its intention to create and expand a digital metaverse. The company already has over 10,000 employees working on building AR glasses and accompanying applications. Zuckerberg has previously talked about his interest and fascination with how augmented reality works and the vision to turn it into an active metaverse of multiple digital devices connected via wireless data transfer technology. 

Facebook might announce a new name soon — here is why

According to a report by The Verge, the social media application called Facebook would be placed under a parent company. This company would take care of other products such as Instagram, WhatsApp, Oculus and other services as well. The report also mentions that the Facebook rebrand could take some heat off Mark Zuckerberg and Facebook, as the CEO and company are under major scrutiny by authorities. 

Google also underwent a rebranding

For those who are familiar with it, Google also went through a stage of rebranding and placed itself under a holding company which goes by the name Alphabet. The rebranding took place in 2015 and Google clarified that it was not just a search engine, but functioning in other sectors as well. Similarly, the upcoming Facebook rebranding signified Facebook's willingness to expand its business from being just a social media platform to a technology conglomerate. 

As mentioned in the report by the American technology website, "A possible name could have something to do with Horizon, the name of the still-unreleased VR version of Facebook-meets-Roblox that the company has been developing for the past few years." Facebook's new name might be revealed by Zuckerberg in an upcoming Connect Conference on October 28, 2021.

Facebook is making extensive efforts in the direction of creating a functional metaverse as it also set up an entire team to work on the same. Recently, Andrew Bosworth (head of AR and VR) was promoted to the position of Chief Technology Officer. Additionally, the company is also hiring another 10,000 employees in Europe to work on its vision of creating the Facebook metaverse. 

(Image: PTI)