Facebook Inc. is planning to rebrand the company with a new name. The Verge, citing a source with direct knowledge of the matter, reported that Facebook is planning to change the name of its company next week. CEO Mark Zuckerberg plans to speak at the company’s annual Connect conference on October 28 about the name change.
Facebook Plans to Change Its Name: Report
According to the report of The Verge, there is going to be a Facebook conference on October 28 in which Mark Zuckerberg can announce the new name of Facebook. A Facebook spokesperson, however, declined to comment, saying the company “does not comment on rumors or speculation.”
Let us tell you that Facebook founder Zuckerberg said in an earnings call in July that the future of the company is in the ‘metaverse’. What Facebook is targeting is an Alphabet Inc-like holding company — one of several social networking apps like Instagram, WhatsApp, Oculus and Messenger — under one organization.
On October 18, Facebook said that it plans to hire 10,000 people in the European Union over the next five years to help build the metaverse. Metaverse – A new online world where people exist and communicate in a shared virtual space. Facebook has invested heavily in virtual reality (VR) and augmented reality (AR) and intends to connect its nearly three billion users across multiple devices and apps.