Changing the name of facebook: Facebook plans to change the name to reflect the focus of the metaverse, according to Verge

Mumbai: Facebook plans to change the name of its company to reflect its focus on creating a metaverse, according to The Verge, citing a source who is directly aware of this.

The change of Facebook name, which CEO Mark Zuckerberg plans to announce at the annual conference of Connect on October 28, but may be announced earlier, is intended to indicate the ambitions of Menlo Park, based in California, to be known not only on social networks. Media. Facebook’s future lies in the meta-universe, Zuckerberg said after talking about profits in July.

Facebook is looking to create a holding company similar to Alphabet Inc. for its family of applications, which includes WhatsApp, Instagram, Messenger, Oculus and the blue brand of the same name.

The Verge report came at a time when the company is facing increasing US government control over its business practices. Lawmakers from both parties outraged the company, illustrating the rise of anger in Congress via Facebook.

Silicon Valley companies often change their names in an attempt to expand their services. Google founded Alphabet Inc. as a holding company in 2015, to go beyond its search and advertising business to control a variety of other businesses, from self-driving vehicles and medical technology to providing Internet services in remote areas.

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On October 18, Facebook announced plans to hire 10,000 people in the European Union over the next five years to help build a metacosm – a nascent online world where people exist and communicate in shared virtual spaces. The company also plans to invest $ 50 million in partnership with organizations to responsibly build a virtual world. Facebook has invested heavily in virtual reality (VR) and augmented reality (AR) and intends to connect nearly three billion users through multiple devices and applications.

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