On Thursday, Facebook CEO Mark Zuckerberg proclaimed at the company’s annual meeting on augmented reality (AR) and virtual reality (VR) technology that the company is changing its name to Meta, and a blue infinity-like logo accompanies it, to reflect the firm’s growing focus on surround-yourself technology known as ‘metaverse.’ But the social media network still be entitled as Facebook. He said at the event that Facebook’s new name Meta means “beyond,” for which we’ve the ancient Greeks to thank for.
Also not changed, at least for now, are its CEO and senior leadership, its typical organizational framework, and the crisis that enveloped the firm. Now, Facebook Inc. is called Meta Platforms Inc., or Meta, to reflect what the chief executive said is its commitment to developing the metaverse.
Facebook. Meta. pic.twitter.com/oeUjiFe8PW
— Jon Erlichman (@JonErlichman) October 28, 2021
Reflecting the changing of name, Facebook has reversed the ticker symbol MVRS. Moreover, it plans to commence trading under this new symbol beginning on 1st December 2021.
Zuckerberg said the determination to rebrand Facebook was made to who they’re and what they hope to build.
Wendy’s Changed to “Meat”
Like many firms in crisis before it, FB changed its name to Meta, and a blue infinity-like logo accompanied it. Facebook Inc. also owns WhatsApp and Instagram, among other mobile applications.
Earlier in October, The Verge was first to report on a possible renaming Facebook, leading to speculation that the social media company could declare its new name at its annual conference.
The social media giant purportedly has been investing heavily into developing a metaverse, which could be described as spacious. The company’s investment in such building work is estimated to be at least ten billion dollars in this year alone. Part of the project is supposed to include launching a unified account system that would consist of all the social apps of the company, Portal, the Oculus Quest virtual headset, and future devices.
According to the Wall Street Journal reports, the market value of one of the largest firms by market capitalization, Facebook, is 868.5 Bn dollars. In addition, it had around 3.6 Bn monthly users globally in the 3rd quarter of 2021.
Furthermore, soon after the declaration of FB’s name change, an American international fast-food restaurant chain Wendy’s changed its Twitter handle to ‘Meat.’