Facebook Plans To Change Its Name

Social media giant, Facebook is reportedly changing its name as soon as next week to a new name that will reflect its focus on creating a metaverse at its annual Connect conference on October 28.

The rebrand is expected to position the blue Facebook app as one of many products under a parent company overseeing groups like Instagram, WhatsApp, Oculus, and more. According to The Verge.

The change would be similar to what Google did in 2015 when it put its various projects and divisions, along with itself, under its parent company Alphabet.

According to reports, Mark Zuckerberg has long talked about wanting to make Facebook a metaverse company and has been taking steps towards that goal. Earlier this year, Facebook formed a team dedicated to building a metaverse, and just a few days ago, it talked about adding 10,000 "high-skilled" jobs across the European Union over the next five years to build its virtual and augmented reality experiences. It also released the Ray-Ban Stories augmented reality smart glasses in September.

Facebook spokesperson Joe Osborne said in a statement that reports of the change of name is a rumor and the company will not make comment.

"We don’t comment on rumor or speculation."