Mark Zuckerberg, the CEO of Facebook, announced on Thursday that the company’s name will be changed to “Meta” to signify a future beyond the embattled social network. The rebranding comes as the firm faces increased scrutiny from politicians and authorities over its market dominance, algorithmic judgments, and monitoring of platform abuses.
Speaking at the company’s live-streamed virtual and augmented reality conference, CEO Mark Zuckerberg mentioned the new moniker represented the company’s commitment to constructing the metaverse. Our brand is currently so closely associated with one product that it can’t possibly reflect everything they have doing now, never alone in the future, he explained. After grappling with social concerns and living under closed platforms, we’ve learned a lot, and now it’s time to use what we’ve learned and help construct the next chapter.
The transition, as per the internet giant, would unify its various apps and technology under one new brand. It states that its corporate structure will not be altered. The names of the programs it develops will remain the same: Facebook, Instagram, Messenger, and WhatsApp. The phrase “metaverse,” which was first used in dystopian fiction three decades ago and is now gaining traction in Silicon Valley, refers to a shared virtual world that can be accessed by anyone using various devices.
On Thursday, the firm unveiled a new sign at its Menlo Park headquarters, replacing the thumbs-up “Like” emblem with a blue infinity form. Skeptics have pointed out that the name change looks to be an attempt to divert attention away from the Facebook Papers, a collection of stolen documents that reveals how Facebook ignored internal assessments and warnings about the problems its social network caused or exacerbated throughout the world. Within the following decade, Zuckerberg believes the metaverse will reach a billion individuals.
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