Facebook Inc will be changing its name to Meta, CEO Mark Zuckerberg announced today, as it seeks to position itself as a multiverse company.
“We are a company that builds technology to connect,” Zuckerberg told a company event. “Together, we can finally put people at the centre of our technology. And together, we can unlock a massively bigger creator economy.”
Zuckerberg said the name change was driven by the fact that the company did a lot more than just Facebook. “Right now, our brand is so tightly linked to one product… But over time, I hope we are seen as a metaverse company.”
The metaverse has been billed as the next great thing for online interaction and can be defined as a sort of 3D immersive environment shared by multiple users who would interact with each other through avatars.
The creation of such online worlds can give users an immersive experience in the work or leisure spheres. The rebranding is part of an effort by Facebook to move away from being just a social media company to one specialising in the metaverse, which social media will be just a single facet of.
In recent weeks, the company has been battling criticism from lawmakers and regulators over its market power and allegations of abuse on its platform.
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