Facebook announces a new name: Meta

Top line

Facebook changed its name to Meta, announced the social media giant at its annual conference on augmented and virtual reality technologies on Thursday.

Key facts

Facebook’s new name The purpose of the Greek translation means “outside,” said Facebook CEO Mark Zuckerberg at the event.

He said the decision to rename Facebook was made to “reflect who we are and what we hope to create,” implying the company’s plans to focus on the “metaverse.”

The new name was accompanied by a blue logo, similar to the symbol of infinity.

Facebook Inc. also owns Instagram and WhatsApp, among other mobile apps.

The Facet first announced a possible rebranding earlier this month, leading to speculation that the social media giant may announce its new name at today’s event.

Decisive quote

“Now our brand is so closely linked to one product that it can’t represent everything we do today, let alone the future,” Zuckerberg said. “Over time, I hope that we will be seen as a meta-global company, and I want to consolidate our work and identity on what we are building for.”

Chief critic

“Facebook managers aren’t reliable with their products in the real world, so it’s not clear why we should trust them in the virtual world,” said Kirsten Martin, a professor of technology ethics at Mendoza Business College at the University of Notre Dame. the statement said.

A large number

868.5 billion dollars. This is the market value of Facebook, one of the largest companies by market capitalization. In the third quarter of this year, it had 3.6 billion monthly users worldwide Wall Street Journal reported.

Tangent

Shortly after the news of Facebook’s name change, Wendy’s fast food chain changed its Twitter address to “Meat“, Jokingly saying that she goes” In Meataverse “.

Key background

Zuckerberg also spoke more about the metaworld, the concept of a digital world where virtual reality combines with physical reality, at Connect’s annual conference. Games are likely to be the first feature to draw users into the metaworld, Zuckerberg said. But Zuckerberg also seeks to engage users through training, as well as features to work and study in the metaverse. Zuckerberg said Facebook tends to allow users to use accounts separately from their social media accounts. Facebook has smart sunglasses on the market, equipped with built-in cameras, created in collaboration with Ray-Ban, and already offers virtual reality headsets.

Further reading

It is reported that Facebook plans to change the name of its company (Forbes)

Is Facebook changing its name? Here are other big companies that have taken a dramatic step (Forbes)

Facebook expects the Metaverse project to cost at least $ 10 billion in 2021 alone (Forbes)

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