Facebook changes its name to Meta

The social media giant Facebook has announced that it has changed its name to Meta, it said that it would better “encompass” what it does, as it broadens its reach beyond social media into areas like virtual reality (VR).

The change applies only to the parent company that owns Facebook, Instagram and Whatsapp, this move follows a series of negative stories about Facebook, based on documents leaked by an ex-employee.

This was one of the most awaited events, as Facebook was expected to announce the new name for the company, and also lay out its vision for metaverse it is building. This comes at a time when the company has come under scrutiny for the negative impact it has on teens, based on the Wall Street Journal expose.

The rebranding of the social media platform reflects the company’s broader ambitions related to metaverse and away from Facebook, an identity that is closely linked to all its products, said Co- founder and CEO Mark Zuckerberg at the company’s Connect conference on October 28.

The CEO of Facebook Mark Zuckerberg said:

“We’re now looking at and reporting on our business as two different segments, one for our family of apps, and one for our work on future platforms.

“And as part of this, it is time for us to adopt a new company brand to encompass everything that we do, to reflect who we are and what we hope to build.”

The company also unveiled a new sign at its headquarters in Menlo Park, California, on Thursday, replacing its thumbs-up “Like” logo with a blue infinity shape.

Mr Zuckerberg said the new name reflects that over time, users will not need to use Facebook to use the company’s other services.

Facebook has said it intends to start trading its shares under the new stock ticker MVRS from 1 December.