It’s finally confirmed that Facebook’s corporate entity is now Meta. Can you envision a new name for the social networking parent corporation behind Facebook, Instagram, WhatsApp, and Oculus after 17 years as Facebook?
Such a radical transformation had been rumored, but now it had been confirmed. Mark Zuckerberg issued an official statement during the company’s AR/VR-focused Connect event. Here’s what he officially mentioned about the new name.
Mark Zuckerberg Official Statement On The New Name
Mark Zuckerberg, the company’s founder, revealed the adjustment during the company’s AR/VR-focused Connect event. Saying the new label better conveyed the company’s main ambition: to build the meta-verse. Mark Zuckerberg stated, “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.”
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
— Facebook (@Facebook) October 28, 2021
“To reflect who we are and what we hope to build, I am proud to announce that starting today, our company is now Meta. Our mission remains the same — it’s still about bringing people together. Our apps and our brands — they’re not changing either.” Adding, “From now on, we’re going to be meta-verse-first, not Facebook-first.”
The redesign is part of the business’s ambitions to switch gears away from being recognized as just a social network company and concentrate on Zuckerberg’s goals for constructing the meta-verse, as The Verge initially reported on October 19th. In July, he told The Verge that Facebook would ‘effectively transition from people seeing us as primarily a social media company to being a meta-verse company’ over the next several years.
‘Meta’ Blog Post By Zuckerberg
In a blog post published Thursday, Zuckerberg stated that the company’s organizational structure will not change, but how it presents quarter performance would. Here’s a LINK to his blog article where he summarized everything.
He began saying, ‘We are at the beginning of the next chapter for the internet, and it’s the next chapter for our company too.’ He also added that, ‘The next platform will be even more immersive — an embodied internet where you’re in the experience, not just looking at it. We call this the meta-verse, and it will touch every product we build.’ He also highlighted their duties and responsibilities, as well as other pertinent information.
The company seeks to begin trading under the new stock ticker symbol ‘MVRS’. On December 1, 2021 with the new Meta name. The company said that the announcement ‘does not affect how we use or share data.’ Facebook’s name change to Meta is comparable to Google’s parent company’s name change to Alphabet in 2015.
On Thursday, the company introduced a new signpost at its Menlo Park headquarters. Swapping the thumbs-up “Like” emblem with a blue infinity symbol.
Different Motive For The Rebranding
Skeptics have highlighted out that the rebranding shows a willingness to divert attention away from the Facebook Papers. A collection of stolen documents that reveals how Facebook ignored internal assessments. And warnings about the problems its social network caused or enhanced around the world.
Within the following decade, Zuckerberg believes the meta-verse will reach a billion individuals. While Google was not attempting to disassociate itself from its own name, Facebook’s rebranding had quite different motivations.