Facebook plans to change company name, reports The Verge

Facebook plans to rebrand the company with a new name that focuses on the metaverse, The Verge reported, citing a source with direct knowledge of the matter.

According to The Verge, Facebook‘s CEO Mark Zuckerberg is expected to discuss the name change at its annual Connect conference on October 28, but it could be unveiled sooner.

Moreover, the rebranding would likely position Facebook as one of many products under a parent company, overseeing groups like Instagram, WhatsApp, Oculus, and more. However, a spokesperson for Facebook declined to comment on this story.

Further, the move to rebrand will also reflect Facebook’s focus on building the so-called metaverse— an online world where people can use different devices to move and communicate in a virtual environment. Besides, Facebook recently announced its plans to hire 10,000 more employees to work on the metaverse in Europe, Reuters reported.

The Verge report also mentioned that the possible name for the company could have something to do with Horizon.

Sources: The Verge, Reuters