Facebook to rebrand itself as 'metaverse company', get new name: Report
Facebook Inc., facing intense scrutiny
over its business practices, is planning to rebrand the company with a new name
that focuses on the metaverse, according to The Verge.
Chief Executive Officer Mark
Zuckerberg is expected to announce the name at the company’s
Connect conference on Oct. 28, the website reported on Tuesday.
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A Facebook spokesperson declined to comment, saying the
company doesn’t “comment on rumor or speculation.”
Zuckerberg, who co-founded the social network in 2004, has said
that the key to Facebook’s future lies with the metaverse concept -- the idea
that users will live, work and exercise inside a virtual universe.
“In the coming years, I
expect people will transition from seeing us primarily as a social media
company to seeing us as a metaverse company,” Zuckerberg said in July. “In many
ways the metaverse is the ultimate expression of social technology.”
The rebranding would come at a time when Facebook is
under fire from regulators, lawmakers and activists. Whistle-blower Frances
Haugen has shared thousands of company documents with regulators and the Wall
Street Journal. The documents detailed Facebook’s struggle with moderating its
content and alleged deleterious mental-health effects of its photo-sharing app
Instagram.
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