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Facebook Changes Corporate Name to ‘Meta’

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Facebook Changes Corporate Name to ‘Meta’

Facebook Inc (FB.O) is now called Meta, the company said on Thursday, in a rebrand that focuses on building the “metaverse,” a shared virtual environment that it bets will be the successor to the mobile internet.

The rechristened Meta, as the parent company of Facebook’s social services and AR/VR businesses, is intended to reflect Zuckerberg’s positioning of the company as focused around “metaverse” experiences and services, which he hopes will reach 1 billion people in the next decade.

“Our mission remains the same — it’s still about bringing people together,” Zuckerberg said Thursday during his keynote kicking off Facebook Connect, its annual conference for AR/VR developers and creators. “But now we have a new North Star, to help bring the metaverse to life, and we have a new name that reflects the full breadth of what we do and the future that we want to help build.”

Facebook is one of the most-used products in the world, Zuckerberg said, but “increasingly it just doesn’t encompass everything we do.”

“From now on, we’re going to be metaverse-first, not Facebook-first,” he added, which means that over time users will not need to use Facebook to access the company’s other products.

By renaming itself Meta, Facebook — coincidentally or not — also is introducing a new storyline about the massive company amid a cascade of recent articles by major news outlets revealing new details of its inner workings. Based on a trove of leaked documents referred to as “The Facebook Papers,” the stories show that top Facebook execs, including Zuckerberg, failed to act on warnings from employees about problems like misinformation.

 

 

 

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