Facebook is reportedly planning to change its company name soon. Some of the latest reports suggest that the new name could be announced next week.
According to a report coming from The Verge, sources close to the matter suggest that the decision to change the company name is mainly to focus more on building the metaverse.
Facebook name change
Facebook CEO Mark Zuckerberg is expected to announce details related to the name change at its annual Connect conference next week, on October 28. As per reports, Facebook basically wants to become more than just a social media platform.
Facebook currently offers a range of social media platforms including Instagram, WhatsApp, Oculus, and more. Following the name change, it is likely that the blue Facebook app will be one of the apps that the tech giant offers.
The social media platform hasn’t revealed any detail on the name change yet.
It should be noted that the name change will be for the parent company and not for the Facebook app or any other platforms that the tech giant provides.
Metaverse is the focus
Facebook first announced its plans to build the metaverse last month. The company recently announced to hire 10,000 people to build the metaverse, which is basically a new phase of interconnected virtual experiences using technologies such as virtual and augmented reality.
Commenting on the hiring spree for metaverse, Facebook’s Nick Clegg, VP Global Affair said, “we are announcing a plan to create 10,000 new high-skilled jobs within the European Union (EU) over the next five years.”
“Beyond emerging tech talent, the EU also has an important role to play in shaping the new rules of the Internet,” he further added.
To recall, back in September this year, Facebook announced to invest $50 million to partner with the organisation to build the metaverse.
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