Facebook has rebranded and changed the parent-company’s name to Meta. All Facebook apps and technologies will now come under the company brand Meta. The reason behind this rebranding is Facebook’s focus on building the metaverse and bringing it to life.
First coined by science fiction writer Neal Stephenson in 1992 for his novel ‘Snow Crash, metaverse is a virtual environment that one can go inside of instead of looking at something on the screen. It is the Internet brought to life. It will be a space where endless interactions can take place between people for meetings, work and play using gadgets such as virtual reality headsets, smartphone apps and augmented reality glasses.
The rebranding is a component of Facebook’s intent to move away from the social media company tag and build the story around CEO Zuckerberg’s plan of creating a ‘metaverse’.
In a blog post, Zuckerberg said the move will not impact the corporate structure of the company but will have an effect of how Facebook reports its financials. He wrote, “Starting with our results for the fourth quarter of 2021, we plan to report on two operating segments: Family of Apps and Reality Labs. We also intend to start trading under the new stock ticker we have reserved, MVRS, on December 1. Today’s announcement does not affect how we use or share data.”
In a similar kind of move, Google rebranded itself and the brand was reorganised as one of the many company’s under the umbrella of parent company Alphabet.
Credit : DNA
Picture Credit : Google
