Why did Facebook change its corporate name? | Facebook is changing its name | What is Metaverse?

Why did Facebook change its corporate name?

Whenever we talk about social media that unites people from all over the world, only one word comes to our mind and the other is not Facebook. Although this social media giant is not the first social networking site in the world, it still has the highest level of importance and popularity. Facebook has turned the world into a global village where one can connect with another person, sitting in a completely different corner of the planet. It is one of the most successful social media platforms.

It was founded in 2004 by Mark Zuckerberg, Andrew McCallum, Chris Hughes, Dustin Moskowitz and Eduardo Savarin and did not take long to become a full-fledged multinational technology company from just one social networking site. With its impressive service, it is considered as one of the most valuable companies in the world. The most interesting feature of Facebook is that it is free and for everyone. Anyone can create a profile on Facebook and use it to their heart's content.

This social media giant has not rested all these years and has acquired some big companies that deal with social networking. Facebook took over Instagram in 2012 and WhatsApp in 2014.

Facebook never gets tired of making history. The leading social media platform was in the news again, where it changed its corporate name to "Meta" on October 2, 2021, as part of the most awaited rebranding effort.

At Facebook, we create tools to help people connect with the people they love and share what they want, and by doing so we increase people's ability to build and maintain relationships.Mark Zuckerberg

Facebook is changing its name

The company that has conquered the entire social media world has changed its name and announced its first and foremost task to rebuild itself. There has been speculation in media channels around the world about when Facebook will change its name. Although most media channels have not been able to contain the excitement over Facebook's name change, some reports released on October 20 suggest that Facebook will have a new name when the company holds its next annual Connect conference. However, the social media behemoth has finally been able to change its corporate name, the main goal of which is to reflect its focus on building metavars.

What is Metaverse?

Two decades ago, the world we live in now seemed like a world of science fiction cinema. Thanks to technological advances, this is now a reality.

The use of the term 'metavers' has recently become a trend since Mark Zuckerberg talked about it a few months ago, although the term was first used in 1992 in Neil Stephenson's science fiction 'Snow Crash'.

The key meaning of the word is that real reality and virtual reality will coexist in a shared online space. According to Zuckerberg, Metavers will give creators and artists huge opportunities.

The company has announced it will create 10,000 jobs in the European Union. Digital space connected to virtual and augmented reality technology will be a lifetime.

It will be open to everyone like the internet instead of a single company. With this online interaction our lives, schools and colleges will be more lifelong with online, it seems time is needed now. So, Facebook is looking to become a Metaverse company in the next five years.

Acquisition of Facebook Oculus

Facebook seems to have been thinking about its re-branding issue for a long time.

At the time, Oculus was just a year old company. Facebook believes that in the future of VR, people will simply start communicating, working and playing in the virtual world. Facebook is also interested in connecting the Messenger app with Oculus Quest.

The recent Facebook controversy behind the name change?

Don't forget the recent controversies surrounding the biggest social networking company may also contribute to this decision. Controversial documents shared by whistleblower Frances Hausen, former product manager of the Citizens Integrity Group, have added fuel to the fire.

The document claims that Facebook already knew that the company's products were harming teenagers and affecting their mental health, but did nothing to help.

The global upheaval in October was probably the last nail in the coffin, with all major apps owned by Facebook Inc. such as Instagram, WhatsApp and Facebook itself being the longest global upheaval in recent times. The distraction was about 6 hours

It can play a huge role in the decision of re-branding to give a fresh and fresh start.

Why does Facebook re-brand Meta, reflecting Metaverse?

Facebook finally changed its corporate name to "Meta" on October 2, 2021, ending all speculation around the world. Company.

There is no doubt that the most important product of Facebook is Facebook, or social media The Dia platform that nurtures it. However, the American Multinational Technology Association has also made great strides in areas such as virtual reality (VR) and is looking to expand further in the coming years.

Now, if you’re wondering if Facebook will be called by its old name anymore, you should know that the brand has just seen a technological change in its corporate name. This means that Facebook will still be called by its previous name, and nothing else will change on the platform. Also, Facebook-acquired WhatsApp and Instagram will be the same thing they were. However, this change affects the corporate name, which was previously Facebook Inc. because it is now Meta Platform, Inc.

Facebook chief Mark Zuckerberg had previously commented on the change, saying that Facebook's existing name "probably does not represent what we are doing today, leave it to the future" and thus needed to be changed.

By changing its corporate name, Facebook is now planning to create a "metaverse", which is supposed to be an online world where people will be able to play, work and communicate in a virtual environment through VR headsets.

It comes from the Greek word “meta”, meaning Facebook’s new name “transcendence” and fully supports what it is doing and what it aims to do in the future.

Meta logo

The brand has also been renamed on the Internet and at the company's Menlo Park headquarters in California. The previous thumbs-up logo, which symbolizes Facebook’s “Like”, is now “Blue Infinity”.

Conclusion

The biggest social networking site has been renamed and all of this is to further develop the company and turn it into a metaverse. The name "meta" itself is the beginning of metaverse and it will soon become a metaverse. Facebook is focused on opening a new door to a world that will literally blur the line between physical reality and virtual reality.

FAQ

Is Facebook rebranding itself?

Yes, some reports have long suggested that Facebook plans to change its name and that the new name will focus on Metaverse. The name change was actually implemented on October 2, 2021, when the company's corporate name "Meta" was re-established.

What is Metaverse?

It’s a huge virtual world where millions of people can use it using their own avatars at the same time.

Is Oculus owned by Facebook?

Oculus was bought by tech giant Facebook in 2012 for 2 billion.