News World

Facebook Plans To Change Its Name As Part Of A Company Rebrand… Yes, You Read Right.

Facebook could announce a new name next week as it plans to rebrand the company, according to a report.

US tech news website The Verge reported that Facebook’s founder and chief executive, Mark Zuckerberg plans to talk about the dramatic name change at a company event next week.

However, in a statement, Facebook said it “doesn’t comment on rumour or speculation.”

Currently, Facebook also owns Instagram, WhatsApp, and virtual reality brand Oculus and under the plans, Facebook is potentially planning to change the name of its holding company but not its social media platform.

According to The Verge, the new name for the holding company could possibly be linked to “Horizon” which is a word used in at least two virtual reality products that Facebook is developing.

The Verge further confirms, VR is the driver of the name change as the company focuses on building a “metaverse” as the cornerstone of a new growth strategy. The Verge reports that the potential rebranding announcement could take place at the company’s annual product conference, which is due to be held on the 28th of October.

The dramatic rebrand is possibly the result of a new scandal that the social media giant is facing after an ex-Facebook employee went public, accusing Facebook of creating division and harming children.

Ex-employee Frances Haugen, leaked documents to the Wall Street Journal as well as testified to the US lawmakers, resulting in one of Facebook’s most damaging crises yet, and at the same time forcing a denial from Mr. Zuckerberg. He said in a post via his account that Ms. Haugen’s claim the company prioritises profit over safety was “just not true.”

Facebook is currently developing a social virtual reality platform called “Horizon Worlds” as well as a virtual-reality meeting service called “Horizon Workrooms.” Nick Clegg, Facebook’s vice-president of global affairs, has mentioned that he now takes his Monday morning meetings with a virtual table and whiteboard in the metaverse.

Facebook announced earlier this week that it was planning to hire 10,000 people from the European Union to develop its metaverse.

As per what Facebook said in a blog post, “The ‘metaverse’ is a set of virtual spaces where you can create and explore with other people who aren’t in the same physical space as you.”

“You’ll be able to hang out with friends, work, play, learn, shop, create and more. It’s not necessarily about spending more time online — it’s about making the time you do spend online more meaningful.”

That said, Facebook also mentioned that it could take up to 15 years to build something like this.

Photo by Thought Catalog from Pexels

Comments are closed.

© 2020, TV1News.com.au, all rights resrved. About Us | Terms & conditions