Facebook Plans To Rebrand As A New Company

According to a report by The Verge, Facebook will rename the company to a new name to focus on building the Metaverse.

CEO Mark Zuckerberg will announce a new name at Connect’s annual meeting on October 28, but the new name may be announced sooner, The Verge reports.

With the ambition to be known for more than social media, Facebook plans to appoint 10,000 jobs in Europe over the next five years, based on a metaphor that the company considers being a key factor in the future. Announced. 

A month ago, the company also announced that AR and VR director Andrew Bosworth would be promoted to Chief Technology Officer. With over 10,000 employees already building consumer hardware like AR glasses on Facebook, Zuckerberg believes it will be as ubiquitous as smartphones. In July, Zuckerberg said the future of Facebook lies in the virtual Metaverse where users live, work and play on Facebook.

The new brand will appear when Facebook is being criticized in a series of scandals. This includes a series of internal documents testified by whistleblower Frances Haugen at the Senate Trade Science and Transportation Commission. The US government is still scrutinizing Facebook for antitrust laws.

A Facebook spokeswoman said, “I will not comment on rumors or speculation.”