Facebook to rebrand with new name

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Social media giant, Facebook, is speculated to be working on changing its company name next week, theVerge reports.

The development, according to the source, comes as the company seeks to reflect its focus on building the metaverse.

Metaverse, a construct made up of the prefix “meta” and the stem “verse,” describes the concept of a future iteration of the Internet, made up of persistent, shared, 3D virtual spaces linked into a perceived virtual universe.

CEO of Facebook, Mark Zuckerberg, is expected to talk about the new development during the company’s annual Connect conference on Thursday, October 28, 2021.

While the details still remain unclear, the rebrand will possibly identify Facebook as a product (like Whatsapp, Instagram) under the new parent company name.

Six years ago, precisely on October 2, 2015, Google took a similar turn when it rebranded to adopt Alphabet Inc. as its parent name overseeing other subsidiaries including Google, Youtube, et al.