Facebook is planning on changing its name to show some focus, Verge reports

in hive-175254 •  3 months ago 

Facebook plans to change its company name next week to show its focus on metadata and showcase it on social media, reports The Verge, citing a source with some information on the matter.

With the renaming of Facebook, CEO Mark Zuckerberg plans to speak to the company's annual Connect on October 28 but will soon disclose it, intended to show the company's desire to be in Menlo Park, California known beyond social media.

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What Facebook aims to do as a company is Alphabet Inc – like holding company for its family of apps including WhatsApp, Instagram, Messenger, Oculus, and the eponymous blue brand.

The future of Facebook lies in ‘metaverse’, Mark Zuckerberg said after a phone call in July. The news comes at a time when the company is facing increasing US government scrutiny over its business practices.

It is not uncommon for Silicon Valley firms to change their names as they seek to expand their services. Google launched Alphabet Inc as a participating company in 2015 to expand its search and advertising businesses, oversee a wide range of automotive businesses and health technologies and provide online services in remote areas.

On October 18, Facebook said it was planning to employ 10,000 people in the European Union over the next five years to help build the metaverse - an emerging online world where people live and connect in shared communities.

The company plans to invest $ 50 million to partner with organizations in its commitment to building a tangible world. Facebook has invested in virtual reality (VR) and Augmented reality (AR) and aims to connect its nearly three billion users and upgrade several devices and applications.

Looking forward to your responses : )

Regards,
@Teky

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Well in the world of these big companies they are always the "balls" with scandalous news to gain that level they need for new products or brands, sure is part of the game.
Thanks for your contribution.

You are right @joseph1956,

Thank you for commenting : )