FACEBOOK PLANS TO REBRAND ITSELF WITH A NEW NAME: TECH BLOG

Wed 20 October 2021:

The American technology blog the Verge reported on Tuesday that Facebook Inc is going to rebrand itself with a new name next week, citing a source with direct knowledge of the situation.

According to the Verge, Facebook CEO Mark Zuckerberg wants to discuss the name change during the company’s annual Connect conference on October 28, but it could be revealed sooner.

Facebook responded by stating that it does not comment on “rumor or speculation.”

The Verge report said a possible name for the company could have something to do with Horizon. Recently, Facebook renamed its in-development VR gaming platform named ‘Horizon’’to “Horizon Worlds”.

The disclosure comes at a time when the company’s business operations in the United States are being scrutinized by the authorities.

Legislators from both parties have excoriated the company, illustrating the rising anger in Congress with Facebook.

According to the Verge, the rebranding will portray Facebook’s social network app as one of many products under a parent corporation that will also control Instagram, WhatsApp, Oculus, and other companies.

It’s not uncommon for companies in Silicon Valley to change their names in order to expand their services.

According to the report, the rebranding would also reflect Facebook’s aim on establishing the so-called metaverse, an online world where people can move and communicate in a virtual environment using various gadgets.

Facebook has made significant investments in virtual reality (VR) and augmented reality (AR), with the goal of connecting its almost three billion users via a variety of devices and apps. The corporation announced ambitions to generate 10,000 jobs in the European Union over the next five years to aid in the development of the metaverse on Tuesday.

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