Facebook is set to change its name today (28th) "to reflect its focus on building the metaverse", according to The Verge.
The new name, which CEO Mark Zuckerberg is set to announce at the company's annual Connect conference today, is meant to be reflective of Facebook's mission to be known for more than social media and all the issues that come with it.
According to
The Verge, the rebrand may position Facebook as just one of many products under a larger company overseeing groups such as Instagram, WhatsApp, etc.
The decision to rebrand may also be an attempt to move away from the intense scrutiny Facebook is under following the reveal of issues within the company. Former Facebook employee turned whistleblower Frances Haugen recently leaked internal documents highlighting many issues, particularly around child safety, to the Wall Street Journal.
A new name for Facebook may also be part of their recent mission to expand into the metaverse. According to The Verge, Facebook set up a dedicated metaverse department over the summer with the goal to "focus on the next generation of technology". Mark Zuckerburg told
The Verge earlier this year that the metaverse was "going to be a big focus, and I think that this is just going to be a big part of the next chapter for the way that the internet evolves after the mobile internet".
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