At the Connect Conference 2021 held today, CEO Mark Zuckerberg announced that Facebook would now be known by its new corporate name Meta. Meta would serve as the social networking parent company which brings together the company’s apps and technologies under one new company brand. Meta’s focus will be to bring the metaverse to life and help people connect, find communities and grow businesses.
According to Mark Zuckerberg at the company’s live-streamed virtual and augmented reality conference, the new name reflected its ambitions to build the metaverse, rather than its namesake social media service. Right now, our brand is so tightly linked to one product that it can’t possibly represent everything that we’re doing today, let alone in the future. To reflect who we are and what we hope to build.
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In a founder’s letter posted on the company’s website, the CEO stated that “in the metaverse, you’ll be able to do almost anything you can imagine — get together with friends and family, work, learn, play, shop, create — as well as completely new experiences that don’t really fit how we think about computers or phones today. We made a film that explores how you might use the metaverse one day. In this future, you will be able to teleport instantly as a hologram to be at the office without a commute, at a concert with friends, or in your parents’ living room to catch up. This will open up more opportunities no matter where you live. You’ll be able to spend more time on what matters to you, cut downtime in traffic, and reduce your carbon footprint.”
Our mission remains the same — it’s still about bringing people together. Our apps and their brands aren’t changing either. We’re still the company that designs technology around people, but all of our products, including our apps, now share a new vision: to help bring the metaverse to life, and now we have a name that reflects the breadth of what we do.
From now on, we will be metaverse-first, not Facebook-first. That means that over time you won’t need a Facebook account to use our other services, Mark said.
Contrivers Buzz had earlier reported that Facebook was planning to change its name as it no longer wants to be known as just a social media company and the rebrand would likely position the blue Facebook app as one of many products under a parent company overseeing groups like Instagram, WhatsApp, Oculus, and more.
The name change comes at a time when the company battles criticisms from lawmakers and regulators over its market power, algorithmic decisions, and the policing of abuses on its platforms, including a series of internal documents leaked by a whistle-blower, Frances Haugen, who testified before the Senate Committee on Commerce, Science, and Transportation.