Facebook Announces Name Change

Facebook Plans To Rebrand

Facebook has announced their plan to change its company name next week in a mission to be known for ‘building the metaverse’; this comes with their ambition to be known as much more than social media. Mark Zuckerberg plans to discuss this at the company’s Connect conference on October 28th, which brings together tech developers, content creators, marketers, and many others to celebrate the industry’s growth and future endeavours.

Why Has Mark Zuckerberg Decided To Do This?

Facebook has been innovating in the tech sector for years, and is one of the most used social media platforms today. With Facebook, Whatsapp and Instagram, Mark Zuckerberg is one of the leaders in this industry. The rebrand will likely act as an umbrella name for the new ventures he is undertaking, similarly to Google’s transition to Alphabet. This rebrand is thought to be in order to stray away from the bad publicity Facebook has faced in recent days whilst exploring new advanced products. 

What Is A Metaverse Company?

The word metaverse refers to a ‘virtual-reality space in which users can interact with a computer-generated environment and other users’. Mark Zuckerberg has been leading a voice on this, with Facebook planning on hiring over 10,000 employees to help develop his vision. 

The first example we have seen of this is Horizon Workrooms. This allows people to collaborate together in the same virtual room, whilst working remotely. Designed to help colleagues WFH effectively, the product has advanced tech features with the ability for users to brainstorm together, hang out in social rooms, share ideas and work on documents. 

“The defining quality of the metaverse is presence, which is this feeling that you’re really there with another person or in another place. Creation, avatars and digital objects are going to be central to how we express ourselves and this is going to lead to entirely new experiences and economic opportunities.” – SkyNews

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