Facebook changes name to Meta to highlight virtual reality shift

Facebook is changing its name to Meta, a move that decouples its corporate identity from its social network, which has come under increasing criticism.

By Bloomberg

Facebook Inc. is renaming itself Meta, unlinking its corporate identity from the social network of the same name engulfed in toxic content and highlighting a shift to an emerging virtual reality-focused computing platform.

“The metaverse is the next frontier,” CEO Mark Zuckerberg said in a presentation at Facebook’s Connect conference, held virtually Thursday. “From now on, we’re going to be metaverse first, not Facebook first.”

The name change of Facebook is the most definitive sign so far of the company’s intention to bet its future on a new computing platform: the metaverse, an idea born in the imagination of science fiction novelists. In Facebook’s vision, people will congregate and communicate by entering virtual environments, whether they are talking to colleagues in a boardroom or hanging out with friends in remote corners of the world.

The company said its shares will begin trading under a new symbol, MVRS, on December 1.

–With assistance from Andrew Pollack.


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