Facebook changes its company name to Meta

Founder Mark Zuckerberg said Thursday that Facebook will change its corporate name to Goal, effectively downgrading Facebook’s eponymous service to being just one of the company’s subsidiaries, alongside Instagram and WhatsApp, rather than the overall brand.
The company formerly known as Facebook also said in a Press release which plans to begin trading under the ticker symbol “MVRS” on December 1.
TO brand change could be part of an effort to reshape Facebook’s reputation and turn the page after a series of public relations nightmares, including misinformation on its platforms, flaws in content moderation, and revelations about the negative effect its products have on the mental health of some users.
The name change, which was announced by Zuckerberg during the company’s virtual reality and augmented reality conference. Facebook connection, aligns with its growing focus on the metaverse, which refers to efforts to combine virtual and augmented reality technologies in a new online realm.
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“I’ve been thinking a lot about our identity as we begin this next chapter. Facebook is one of the most widely used products in the history of the world,” Zuckerberg said Thursday. “It’s an iconic social media brand, but increasingly it doesn’t encompass everything we do.

“Today we are seen as a social media company,” he added, “but in our DNA, we are a company that creates technology to connect people. And the metaverse is the next frontier, just like social media when we started.” . “

Zuckerberg, who said he loved studying classics in school, said the name was inspired by the Greek word meta, which means “beyond.” “For me, it symbolizes that there is always more to build.”

The company also replaced its corporate sign, which featured a “thumbs up” image, outside its California headquarters with one promoting its new logo: a blue infinity sign.

Facebook did not announce any executive changes on Thursday. But at Zuckerberg’s Facebook personal page, his job title was changed to: “Founder and CEO of Meta”.
When asked for The edge if he would remain CEO of Facebook for the next 5 years, he said, “Probably. I don’t have a specific date for how long I want to do this. I guess what I could say is that I’m very excited about the next chapter of what we’re doing.”
Mark Zuckerberg's avatar featuring the metaverse at an event on Thursday.

Zuckerberg kicked off the big product event by introducing a host of new social, gaming and workplace concepts for the metaverse, and by recognizing the optics of focusing on such products amid renewed company scrutiny.

“I know some people will say that this is not the time to focus on the future, and I want to acknowledge that there are important issues to work on in the present. There will always be,” Zuckerberg said. “So for many people, I’m not sure that there will ever be a good time to focus on the future. But I also know that there are many of you who feel the same way as I do.”

“We live for what we are building,” Zuckerberg added. “And while we make mistakes, we keep learning, building and moving forward.”

Facebook showed a series of concept videos that highlighted your vision of the metaverse, such as sending a holographic image of yourself to a concert with a friend attending in real life, sitting around virtual meeting tables with remote colleagues, or playing immersive games with friends. Facebook recently said it would hire 10,000 people in Europe to develop the concept.
Mark Zuckerberg in the metaverse as an avatar.

Zuckerberg also announced that Messenger calls will come to virtual reality, plans to operate a virtual marketplace where developers can sell virtual goods, and a new Oculus Quest home screen to make chatting and gaming in the virtual world more. social.

“Your devices will no longer be the focal point of your attention,” he said. “We are beginning to see that many of these technologies will come together in the next five to ten years. Much of this will be widespread and many of us will create and inhabit worlds that are as detailed and compelling as this one, on a daily basis.”

Several major companies have changed established brands over the years. Kentucky Fried Chicken shortened its name to KFC, Japanese car brand Datsun became Nissan. Some high-profile name changes have followed scandals or controversies. Philip Morris, the Marlboro maker, changed its name to Altria, for example, and ValuJet became AirTran after one of its planes crashed in 1996.

Other name changes are intended to reflect the broader ambitions of the company. Snapchat changed its name to Snap in 2016 to reflect its foray into hardware, and Google restructured the company under a new name, Alphabet, and plans to grow a variety of business divisions.


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