Facebook, A Social Media Tool Founded in 2004 by Mark Zuckerberg with fellow Harvard College students and roommates is now re-branding it self. It was The Verge that first reported on Facebook’s plans to rename itself.
Chief Executive Officer Mark Zuckerberg is expected to discuss the new name at the company’s Connect conference on October 28, but it could be unveiled sooner, according to a report by The Verge.
A Facebook spokesperson declined to comment, saying the company doesn’t “comment on rumour or speculation.”
For Facebook, the ‘re-branding’ isn’t just about a switch in the company’s name but a reflection of the company’s growing ambitions and focus on a new area: Metaverse.
Facebook has already announced plans to invest $50 million as part of its efforts to create a ‘responsible’ metaverse. It also announce that they also plans to create nearly new 10,000 jobs in Europe as part of its ‘metaverse’ ambitions.
Changing its name is also signals that Facebook wants to be known for more than just social media. The timing would also seem right, considering the negative spotlight that Facebook is under, with the latest whistleblower revelations just adding to the company’s problems.
“I’m told that the new Facebook company name is a closely-guarded secret within its walls and not known widely, even among its full senior leadership. A possible name could have something to do with Horizon, the name of the still-unreleased VR version of Facebook-meets-Roblox that the company has been developing for the past few years. The name of that app was recently tweaked to Horizon Worlds shortly after Facebook demoed a version for workplace collaboration called Horizon Workrooms.”, Said The Verge.
Zuckerberg has been talking up metaverse since July and the buzzy word, first coined in a dystopian novel three decades earlier, has been referenced by other tech firms such as Microsoft.