Facebook was planning to change its name from Facebook to Meta. Mark Zuckerberg has now officially announced in an official post that, Facebook will be known as Meta after Facebook connect 2021 event. The applications developed by Facebook will not observe the name change. Meta company will act as an umbrella for applications such as Facebook, Instagram, WhatsApp. Oculus will be renamed, Meta.
This is kind of the same move we have seen with Google, in the past Google has also separated a parent company as Alphabet that governs everything at Google. The main motive as cleared out by Mark Zukerberg behind changing the name of Facebook is to represent it as a Global Brand instead of just a social media platform.
In my opinion, this is a good move as adding other services would be an easier task for Facebook from now on. Facebook would be a subsidiary and various services under Facebook would have a proper brand name, Meta.
Announcing @Meta — the Facebook company’s new name. Meta is helping to build the metaverse, a place where we’ll play and connect in 3D. Welcome to the next chapter of social connection. pic.twitter.com/ywSJPLsCoD— Meta (@Meta) October 28, 2021
“We are a company that builds technology to connect. Together, we can finally put people at the center of our technology. And together, we can unlock a massively bigger creator economy. To reflect who we are and what we hope to build. But over time, I hope we are seen as a metaverse company,” Zuckerberg said during the event.
Mark Zuckerberg claimed that changing the name of Facebook to Meta and bringing services under one umbrella would make financial stats more accurate and clear. As per Zuckerberg, Meta plans to report on two operating segments, namely, Family of Apps and Reality Labs.
“We also intend to start trading under the new stock ticker we have reserved, MVRS, on December 1. Today’s announcement does not affect how we use or share data.” Zuckerberg wrote in an official blog post recently.