Connect with us

Breaking News

Facebook Changes Company Name To Meta

Published

on

Facebook CEO Mark Zuckerberg in Press conference at VIVA Technology | Facebook Changes Company Name To Meta | featured

Social media giant Facebook announced Thursday that it changed its company name to Meta. The name Facebook will remain on its social media platform.

However, Meta will take over everywhere else. In addition, the stock ticker “FB” will now go with its new name MVRS beginning December 1. 

  RELATED: Facebook Whistleblower Says Social Media Company’s Products Hurt Children and Fuel Division

New Company Name Meta Refers To The Metaverse

The word Metaverse is made up of the prefix meta-Company Name

The company announced the company name change during the Facebook Connect augmented and virtual reality conference.

The new name reflects its growing preference to go beyond social media. The new name Meta describes its vision for working and playing in a virtual world. 

CEO Mark Zuckerberg gave the announcement during the conference. “Today we are seen as a social media company, but in our DNA we are a company that builds technology to connect people, and the metaverse is the next frontier just like social networking was when we got started,” he said. 

‘Metaverse Aims To Reach A BIllion People’

Earlier in July, then-Facebook announced the creation of a team that would start work on the metaverse. By September, the company said they will promote Andrew Bosworth from hardware division head to Chief Technology Officer by 2022.

Come_And_Take_It_12
comeandtakeit-raven

Last Monday, Facebook announced that beginning the fourth quarter, its hardware division Reality Labs will have its own reporting section. 

In a letter published Thursday, Zuckerberg hopes the new direction will reach billions. “Our hope is that within the next decade, the metaverse will reach a billion people, host hundreds of billions of dollars of digital commerce, and support jobs for millions of creators and developers,” he wrote. 

Meta To Ramp Up Efforts in VR and AR

Over the years, Facebook increased its efforts in developing its tech hardware. It previously introduced a line of Portal video call devices.

It also launched the Ray-Ban Stories and launched the Oculus VR headsets. Throughout it all, the company promised that augmented and virtual reality will remain a key strategy moving forward. 

In addition, Meta said it will spend around t $10 billion over the next year developing technologies that can help build the metaverse.

Zuckerberg even demonstrated some of Meta’s plans for the metaverse. It included a Pixar-like animation of software the company hopes to build someday.

It included a simulation of users hanging out in space via cartoon-like versions of themselves. Zuckerberg used part of the demo to accuse other tech firms of stifling innovation with high developer fees.

However, he also clarified that the development will take around five to ten years at least. The company expects “to invest many billions of dollars for years to come before the metaverse reaches scale,” Zuckerberg added. He hopes that the metaverse will soon succeed the mobile internet. 

Rebranding Comes Amid Damaging Reports

Facebook’s rebranding to a new company name comes amid heavy fire from various sectors. A former employee turned into a whistleblower and released internal documents.

These papers showed that Facebook is aware of the harm its services cause. However, the company seemed to ignore these threats as they bring in increased revenue. 

Watch the CNET video featuring everything Facebook revealed about the Metaverse:

What do you think of Facebook changing its company name to Meta?

View Results

Loading ... Loading ...

What do you think of the new name Meta? In addition, what do you think of Facebook’s decision to rebrand its company name to Meta? Will this change anything for the company?

Let us know what you think. Share your comments in the comments section below.

Continue Reading
4 Comments

4 Comments

  • J. Valenti says:

    I think Facebook is a waste of time. People put a lot of unnecessary information out there for the whole world to see, and what for, does anybody really care? Think it should be removed.

  • Chad says:

    Ya all made a nerdy guy rich with yours and others personal information! Only in America!

  • Mary says:

    No Facebook here👍🏻Probably get worse with censorship!
    You can’t hide poop no matter what name you give it…it all smells and looks the same!🤢

  • Mary says:

    Ps..And I bet China has full access to it!! All about the mighty dollar.

Leave a Reply

Your email address will not be published.

SIGN UP FOR BNA NEWSLETTERS



Do Illegal Immigrants Deserve Federal Stimulus Checks
Biden's Build Back Better Act GIF

Copyright © 2020 Breaking News Alerts. This copyrighted material may not be republished without express permission. The information presented here is for general educational purposes only. MATERIAL CONNECTION DISCLOSURE: You should assume that this website has an affiliate relationship and/or another material connection to the persons or businesses mentioned in or linked to from this page and may receive commissions from purchases you make on subsequent web sites. You should not rely solely on information contained in this email to evaluate the product or service being endorsed. Always exercise due diligence before purchasing any product or service. This website contains advertisements.