Daily World News

Facebook plans to change its name

CM 19/10/2021


Background
share close
Social media giant Facebook Inc is planning to rebrand itself with a new name next week, the Verge reported on Tuesday, citing a source with direct knowledge of the matter.
Facebook Chief Executive Officer Mark Zuckerberg plans to talk about the name change at the company’s annual Connect conference on Oct. 28, but it could be unveiled sooner, the Verge reported.
In response, Facebook said it does not comment on “rumor or speculation.”
The news comes at a time when the company is facing increasing US government scrutiny over its business practices.
Lawmakers from both parties have excoriated the company, illustrating the rising anger in Congress with Facebook.

 Social media: Instagram, Twitter, Facebook, LinkedIn, TikTok (credit: Courtesy) Social media: Instagram, Twitter, Facebook, LinkedIn, TikTok (credit: Courtesy)

The rebranding would position Facebook’s social media app as one of many products under a parent company, which will also oversee groups like Instagram, WhatsApp, Oculus and more, the Verge report added.
It’s not uncommon in Silicon Valley for companies to change their names as they bid to expand their services.
Google established Alphabet Inc as a holding company in 2015 to expand beyond its search and advertising businesses, to oversee various other ventures ranging from its autonomous vehicle unit and health technology to providing internet services in remote areas.
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, according to the report.
Facebook has invested heavily in virtual reality (VR) and augmented reality (AR) and intends to connect its nearly three billion users through several devices and apps.
On Tuesday, it announced plans to create 10,000 jobs in the European Union over the next five years to help build this metaverse.
Zuckerberg has been talking up metaverse since July and the buzzy word, first coined in a dystopian novel three decades earlier, has been referenced by other tech firms such as Microsoft.
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’.

Source

Rate it
Author

CM

The host of Coffee Mouth Scare Crow Show and CEO of 452 Impact, Inc. Here is food for thought. Romans 6:23 "For the wages of sin is death; but the gift of God is eternal life through Jesus Christ our Lord." John 3:16 "For God so love ed the world that he gave his only begotten Son, that whosoever believeth in Him shall be saved."

list Archive

Background
Previous post

Post comments

This post currently has no comments.

Leave a reply