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Facebook Is Getting New Name Soon

Facebook, the most popular social networking site, plans to reintroduce itself next week with a new name.
According to a report by the British news agency ‘Reuters’, The Verge made the claim quoting sources who were directly aware of the matter.
According to The Verge, Facebook’s Chief Executive Officer (CEO) Mark Zuckerberg plans to discuss the name change at the company’s annual Connect conference on October 28, and the name could be unveiled soon.
However, in response to a question, Facebook said the company does not comment on “rumors or speculation”.
The news comes at a time when the company is facing increasing scrutiny from the US government over its business practices.
Lawmakers from both US political parties have questioned the company via Facebook, citing growing anger in Congress.
The rebranding will feature Facebook’s social media app as one of several products under a parent company that will oversee Instagram, WhatsApp, Oculus and others, The Verge reports.
Keep in mind that it is not uncommon in Silicon Valley for companies to change their names because they do so to expand their services.
Google founded Alphabet Inc. in 2015 as a holding company to move beyond its search and advertising business, with various other projects ranging from its autonomous vehicle units and health technology to the provision of Internet services in remote areas. To monitor
According to the report, the site’s rebranding initiative will reflect Facebook’s focus on building an so-called Metavers, an online world where people can use a variety of tools to move and communicate in a virtual environment.
Facebook has invested heavily in virtual reality (VR) and augmented reality (AR) and plans to connect its nearly one billion users through a variety of devices and apps.
Yesterday, Facebook’s management said it was building a new “Metaverse” Internet system that would provide 10,000 jobs in Europe over the next five years.
Mark Zuckerberg has been talking about this since July this year, and the word was first used three decades ago in a science fiction novel (dystopian novel), which is also cited by other technology firms.
The company’s possible name could be Horizon, the report said.
Facebook has recently renamed its underdeveloped VR gaming platform ‘Horizon’ to ‘Horizon Worlds’.

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