Facebook Inc is planning to rebrand itself. Yes! As per The Verge reports, its CEO Mark Zuckerberg is now planning to talk about the name change at the company’s annual Connect conference on Oct. 28.
This comes at a time when the social media giant is facing increasing heat from the U.S. government over its business practices.
Therefore, rebranding itself would position Facebook’s social media app as one of many products under a parent company.
It will also oversee groups like Instagram, WhatsApp, Oculus and more, as per the Verge.
However, it is not so common to change names, especially for big companies like Facebook.
But this move to rebrand will also reflect Facebook’s focus on building the Metaverse. This will be an online world where people can use different devices to move and communicate in a virtual environment.
As it has invested heavily in virtual reality (VR) and augmented reality (AR).
Now it intends to connect its nearly three billion users through several devices and apps. Mark Zuckerberg has been discussing the Metaverse since July. It is soon going to be a trend once it goes online.