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Facebook Inc is planning to rebrand the company with a new name next week.

Mark Zuckerberg wants to be known for building the metaverse

Facebook is planning to change its company name next week to reflect its focus on building the metaverse, according to a source with direct knowledge of the matter.

The coming name change, which CEO Mark Zuckerberg plans to discuss at the organization’s yearly Connect gathering on October 28th, yet could reveal sooner, is intended to flag the tech giant’s ambition to be known for more than web-based media and every one of the ills that involve.

The rebrand would probably situate the blue Facebook application as one of numerous items under a parent organization directing gatherings like Instagram, WhatsApp, Oculus, and more. A representative for Facebook declined to remark for this story.

Facebook already has more than 10,000 employees building consumer hardware like AR glasses that Zuckerberg believes will eventually be as ubiquitous as smartphones. In July, he told The Verge that, over the next several years, “we will effectively transition from people seeing us as primarily being a social media company to being a metaverse company.”

A rebrand could also serve to further separate the futuristic work Zuckerberg is focused on from the intense scrutiny Facebook is currently under for the way its social platform operates today.

A former employee turned whistleblower, Frances Haugen, recently leaked a trove of damning internal documents to The Wall Street Journal and testified about them before Congress. Antitrust regulators in the US and elsewhere are trying to break the company up, and public trust in how Facebook does business is falling.

Facebook isn’t the main notable tech organization to change its organization name as its desires grow. In 2015, Google redesigned completely under a holding organization called Alphabet, somewhat to flag that it was as of now not simply an internet searcher, yet a rambling aggregate with organizations making driverless vehicles and wellbeing tech.

Furthermore, Snapchat rebranded to Snap Inc. in 2016, that very year it began considering itself a “camera organization” and appeared its first pair of Spectacles camera glasses.

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.

Aside from Zuckerberg’s comments, Facebook has been steadily laying the groundwork for a greater focus on the next generation of technology. This past summer it set up a dedicated metaverse team.

More recently, it announced that the head of AR and VR, Andrew Bosworth, will be promoted to chief technology officer. And just a couple of days ago Facebook announced plans to hire 10,000 more employees to work on the metaverse in Europe.

The metaverse is “going to be a big focus, and I think that this is just going to be a big part of the next chapter for the way that the internet evolves after the mobile internet,” Zuckerberg told The Verge’s Casey Newton this summer. “And I think it’s going to be the next big chapter for our company too, really doubling down in this area.”

Confusing issues is that, while Facebook has been intensely advancing the possibility of the metaverse lately, it’s as yet not an idea that is generally perceived. The term was authored initially by science fiction writer Neal Stephenson to depict a virtual world individuals getaway to from a tragic, genuine world.

Presently it’s being taken on by one of the world’s biggest and most questionable organizations — and it’ll need to clarify why its own virtual world merits jumping into.

Source

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