Mark Zuckerberg has written his plan to build a “metaverse” – a digital world that built on our own foundation of virtual reality headsets and augmented reality. Facebook founder Mark Zuckerberg predicts that a billion people will be in the Metaverse in the next decade.
Facebook CEO Mark Zuckerberg announced Thursday that the company will be called Meta in the future. The holding company with a blue infinity symbol as its logo will include Facebook and its major subsidiaries such as Instagram, WhatsApp and the virtual reality brand Oculus. Zuckerberg said Facebook and its various apps will fall under one umbrella, which will also include Instagram and WhatsApp.
Mark Zuckerberg said the new company name was part of the long-term plan of Facebook to create the “Metaverse” — a virtual reality world where users can work, play games and create art. Facebook’s focus on the idea of Metaverse has set a lot of precedents in other tech companies “virtual worlds, such as Second Life, founded in 2003, and online game platform Roblox.
The name change is part of Zuckerberg’s long-term effort to focus on the “metaverse – a virtual reality world where users can socialize, work, play games and create art. The name change was announced, according to the Associated Press, a day after the release of the “Facebook Papers,” a cache of internal company documents alleging that Facebook put its profits before the safety of its users. In announcing Meta, Facebook announced that it would switch its stock ticker from FB to MVRs on December 1.
The name change will bring the company, apps and technology together under a new company brand, the company said in a statement. Since Facebook launched in 2004, the social media giant has bought social media apps such as Instagram and WhatsApp.
Facebook also entered the virtual reality sector when it bought Oculus VR for $2 billion in 2014. Both Facebook’s and Oculus VR headsets form the basis of Zuckerberg’s Metaverse plans, and Zuckerberg has said he plans to continue to sell the headsets at a loss as he tries to increase the number of users.
Facebook announced Thursday that it will change its company name to Meta. He added that under the new company banner “Facebook” could not be used to use the rest of Facebook’s products. Facebook changed its name to “Meta” as a company, but the social network will keep its name.
Facebook has changed its name to Meta, the company announced on Thursday at its annual conference on augmented reality and virtual reality technology. Facebook founder Mark Zuckerberg announced Thursday that the company’s name has been changed to Meta to underscore his Metaverse vision. At the annual Connect conference of the company, Zuckerberg shared more details about the Metaverse, a concept of a digital world in which virtual reality merges with physical reality.
According to a source with direct knowledge of the matter, Facebook plans to change its name next week to reflect its focus on the Metaverse. Zuckerberg announced today that Facebook will change the name of its private company to Meta, a renaming that comes amid a series of PR crises. Mark Zuckerberg announced Friday that the social network will change its name to Meta to reflect the company’s growing focus on the virtual reality platform.
Facebook is not the first high-profile tech company to change its name as its ambitions grow. In 2015, however, the efforts of Facebook to rebrand its tech companies are not unprecedented: Google reorganized itself into a new holding company and placed subsidiaries such as YouTube, the search engine of the same name, and Self-driving Car company Waymo under a new umbrella called Alphabet.
The company’s most popular product, the social media site Facebook, will retain its name even after the parent company’s name is renamed. The Facebook app, which is used by three billion people around the world every month, will also keep its name.
Facebook and its Instagram, Messenger and WhatsApp apps will be housed in a separate division, Facebook Reality Labs, which will manufacture its products for augmented and virtual reality, the company announced this week. Meta Platform, Inc.   (formerly known as Facebook Inc.) (28 October 2021)  is a multinational American technology conglomerate and holding company in Menlo Park, California.
Zuckerberg told The Verge that the change was a postponement made by Facebook because of the timing of the move, which coincided with several PR disasters for the company. He called Facebook an “iconic social media company” that he started in his dorm room in 2004, adding that the name does not cover the entire company. Others warned that the launch of Facebook Metaverse could mean a new space for companies with monopolies and ongoing antitrust concerns.
Roger McNamee, an early Facebook investor and former Zuckerberg mentor, described the company as the most central decision structure he had ever seen at a large company. Earlier this month, former Facebook employee Frances Haugen published a leak of thousands of documents showing that company executives knew that Facebook contributed to the spread of misinformation for years, but did not do enough to combat the negative effects of his start-up in 2004. You talk about a new company, but people on Wall Street and Main Street say that Facebook is still called Facebook.
The category of apps includes Facebook, Instagram, WhatsApp and Facebook Reality Lab, which includes Zuckerberg’s augmented and virtual reality products, including his Oculus headset. The restructuring will not affect the name of the company’s signature blue-colored apps, which will retain the name Facebook. The change positions the blue Facebook app as one of the many products the parent company oversees, a group that also has Instagram, Whatsapp, Oculus and more.