By Laura Kemp •
Published: 20 Oct 2021 • 13:49
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Social media giant Facebook will reportedly change its name and rebrand itself next week, sources say.
Facebook chief executive officer Mark Zuckerberg is planning to talk about changing the name of Facebook on October 28 at the company’s annual Connect conference on October 28.
Facebook has so far said it does not comment on “rumour or speculation.”
The news comes as the company is facing increasing scrutiny from the US Government because of its business practices, with congress rising in anger.
The rebranding will see Facebook’s app under a parent company which will also oversee Instagram, WhatsApp and Oculus, to name a few.
It is common for Silicon Valley companies to rebrand and change names as they expand services.
According to reports, the rebrand will also reflect Facebook’s aim to build the so-called metaverse, which is an online world where people can use various devices to communicate virtually.
The company has heavily invested in virtual reality (VR) and augmented reality (AR), intending on connecting people through several apps and devices.
Facebook also announced plans yesterday, October 19, to create 10,000 jobs in the EU over the next five years in order to help build this metaverse.
Zuckerberg has been talking about the metaverse, a word first coined three decades ago in a dystopian novel, since July 2021. It has also been mentioned by tech firms such as Microsoft.
According to The Verge, a possible name for the company may have references to Horizon, with Facebook recently renaming its in-development VR gaming platform named ‘Horizon,’ to ‘Horizon Worlds’.
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Originally from UK, Laura is based in Axarquia and is a writer for the Euro Weekly News covering news and features.
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