Facebook Rebranding: Plans to Change Name to Focus on Metaverse
Facebook to Rebrand, Focusing on the Metaverse
According to a report published by The Verge, Facebook is preparing to rebrand the entire organization with a new corporate name.
This strategic shift is intended to emphasize the company’s commitment to developing the metaverse.
Name Reveal Anticipated
CEO Mark Zuckerberg is scheduled to reveal the new name during the annual Connect conference on October 28th.
However, The Verge also reports that an earlier announcement regarding the name change is possible.
Expansion into the Metaverse
Facebook has expressed a desire to be recognized for more than just its social media platforms.
The company recently announced plans to hire 10,000 employees across Europe over the next five years.
These new positions will be dedicated to the construction of the metaverse, which Facebook views as central to its future operations.
Leadership Changes and Investment
A month prior, Andrew Bosworth, currently leading the AR and VR divisions, was promoted to the position of Chief Technology Officer.
Facebook currently employs over 10,000 individuals focused on creating consumer hardware, such as AR glasses.
Zuckerberg anticipates these devices will become as commonplace as smartphones.
The Vision of the Metaverse
In July, Zuckerberg articulated his belief that Facebook’s long-term success is inextricably linked to the development of a comprehensive virtual metaverse.
This metaverse is envisioned as a space where users will engage in a wide range of activities, including living, working, and playing.
Rebranding Amidst Scrutiny
The planned rebranding occurs while Facebook is navigating significant criticism related to various controversies.
These include disclosures from internal documents leaked by whistleblower Frances Haugen.
Haugen provided testimony to the Senate Committee on Commerce, Science and Transportation.
Furthermore, Facebook remains subject to antitrust investigations by the U.S. government.
Company Response
A Facebook spokesperson stated, “We don’t comment on rumor or speculation.”
