Facebook is no longer Facebook. It is getting a new name — Meta
The Facebook CEO Mark Zuckerberg announced the same at the company’s Connect event held. The company is rebranding itself as Meta. The rebrand comes as the world’s largest social media company battles criticisms from lawmakers and regulators over its market power, algorithmic decisions and the policing of abuses on its platforms.
Why the new name?
“Facebook just doesn’t encompass everything the company does any more. In addition to its primary social network, that now includes Instagram, Messenger, its Quest VR headset, its Horizon VR platform and more,” said CEO Zuckerberg. “Today we are seen as a social media company,” Zuckerberg said. “But in our DNA we are a company that builds technology to connect people.”
Why the choice for Meta as the new name?
Metaverse, Zuckerberg said, is the new way. The Facebook CEO, who is a fan of classics, said that the word “meta” comes from the Greek word “beyond”.
Will the Facebook’s corporate structure too change?
No. Facebook app, along with Instagram, WhatsApp and Messenger will continue to stay the way they are. The company’s corporate structure won’t change. Facebook stated that its hardware division Facebook Reality Labs will become a separate reporting unit.