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Facebook's CEO Mark Zuckerberg changes His company's Name To Meta During Rebranding

 



Facebook changed its company name to Meta as part of a comprehensive rebranding.

The company says it would be better off "covering up" what it does as it expands beyond social media into areas like virtual reality (VR).


The changes do not apply to individual platforms such as Facebook, Instagram and Whatsapp, but only to the parent company to which they belong.


The move follows a series of negative Facebook stories based on documents leaked by former employees.


Francis Haugen accused the company of placing "profits above safety".


In 2015, Google restructured its company and renamed its parent company Alphabet, but the name was not required.


Facebook CEO Mark Zuckerberg announced the new name when he revealed his plans to build a "metaverse" - an online world where people can play, work and communicate in virtual environments, often with VR headsets.


He said existing brands "may not represent everything we do today, much less in the future" and must change.


"I hope that over time we will be considered a company with a metaverse, and I want to strengthen our work and identity in what we build," he told a virtual conference.


“We now view and report on our business in two different segments, one for our app family and one for our work on future platforms.


"And as part of that, it's time to introduce a new company brand that embraces everything we do and reflects who we are and what we want to build."


The company also unveiled a new logo at its Menlo Park, California headquarters on Thursday, replacing the Like logo with a blue infinity shape.


Zuckerberg said the new name reflects that over time, users won't have to use Facebook to use the company's other services.


The word "meta" comes from the Greek and means "beyond".


To outsiders, the Metaverse may seem like a VR version, but some believe it could be the future of the internet.


Instead of sitting in front of a computer, people at Metaverse can use headphones to enter a virtual world that connects all possible digital environments.


We hope the virtual world can be used for almost anything - from work, games and concerts, to communicating with friends and family.


Facebook has announced that it will start trading its shares under the new stock market ticker MVRS starting December 1.


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The company has suffered a lot of losses in terms of its reputation. The Washington Post reported today that Facebook withheld important information about vaccine misinformation from politicians during the pandemic.


This is the latest in a series of stories based on internal documents presented to the media by former associates of Ms. Haugen. The report claims, among other things, that Facebook is involved in research showing Instagram is damaging the mental health of teens and is struggling to remove hate speech from its platforms outside the United States.


Zuckerberg described the report as a "coordinated effort to selectively use leaked documents to create a false image of our company".

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