A New Name
Facebook is giving itself a new name: Meta. The social media giant is overhauling its identity, and is also rebranding itself with a new logo (an infinity sign-esque symbol). Although the company has a new name and look, Facebook, Instagram, and other apps will stay the same, just under a new Meta umbrella. Mark Zuckerberg announced the name change during the company's virtual and augmented reality conference, and emphasized his plan to focus more on the digital world. Facebook will officially begin trading under the stock ticker MVRS on Dec. 1.
Controversial Company
The renaming of the company comes as Facebook has been embroiled in major controversy in recent weeks, after a whistleblower leaked scandalous internal documents. Not to mention, lawmakers have criticized the company for harming young people's confidence, and being a vessel for the dangerous spread of misinformation online. The move to overhaul Facebook's branding could very well be seen as an effort to mend its reputation and start fresh amid the ongoing scrutiny.
Gone (More) Digital
Either way, the tech giant is moving on to a new chapter, with a big focus on the so-called metaverse, which refers to virtual and augmented worlds that exist online. For several months, Facebook has been building up to this shift, recently releasing several virtual reality products. Zuckerberg called the metaverse "the successor to the mobile internet," so naturally, he's keen to be at the forefront of tech's future.
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