The world’s largest social media company Facebook Inc announced this week that it is changing its corporate name to Meta. The rebrand focuses on building the “metaverse,” a shared virtual environment that, according to Facebook, will be the successor to mobile internet.
Facebook CEO Mark Zuckerberg announced the rebranding at the company’s live-streamed virtual and augmented reality conference. “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,” he said.
The Facebook rebranding 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 services. Most recently whistleblower and former Facebook employee Frances Haugen leaked documents which she said showed the company chose profit over user safety. Read full story
