Meta – The New Name for Facebook’s Holding Company
On Thursday, Facebook CEO, Mark Zuckerberg announced that the tech giant will be rebranding itself with a new name, Meta. According to him, the change has been made to represent the company’s push forward into a new digital age focused on virtual reality, “the next chapter of social connection. Facebook, WhatsApp, Instagram will all be keeping their current app names and the along with Oculus will now be part of the “metaverse”.
During the company’s annual Connect conference, Zuckerberg commented, “From now on, we’re going to be the metaverse first, not Facebook first. Our brand is so tightly linked to one product that it can’t possibly represent everything we’re doing today, let alone the future.”
In a tweet released following the announcement, the company has described the metaverse as the following:
“The metaverse is the next evolution of social connection. It’s a collective project that will be created by people all over the world, and open to everyone. You’ll be able to socialize, learn, collaborate and play in ways that go beyond what’s possible today.”
While the company’s future endeavours are moving forward in a new direction, its current corporate structure will remain as is. This rebranding comes in the wake of allegations that the company has prioritized the spreading of misinformation and hate speech due to such techniques having great user engagement and as such, greater profits. The allegations have stemmed from leaked documents that exposed the inner workings of this massive tech giant.
Despite the timings, Zuckerberg has commented that the rebranding has been in the works for a while now and that the recent allegations have had no sway on the matter.
The rebranding has received a fair bit of backlash for this move throughout social media, with many mocking the new name. How Facebook, sorry, Meta handles itself going forward and the myriad of criticisms against it remains to be seen.