Late on Thursday, Facebook changed their parent company’s name to ‘META’ as a part of their rebranding process and move on from the scandals and miseries they have been through for the future.
The company is trying to shape their virtual reality concept with this name. The idea came from the word ‘metaverse’ that would bring the physical and digital worlds much closer than before.
Facebook that now owns Instagram and WhatsApp is used by billions of users across the globe will have the same name. The rebranding critics claim that this was an effort to distract from the platform’s scandals.
The CEO of Facebook and now Meta said in an annual developers conference that the company has experienced a lot right from struggling with social issues and now it is time to get to the next chapter of the tech-giant.
He then announced that Facebook will be called Meta now, it is just the name that is changing and that their objective and other app names will be the same.
Facebook has been in a serious crisis after former employee and whistleblower Frances Haugen leaked a bunch of internal studies that showed the Facebook employees know about the sites’ potential for harm, later asking the US to regulate the platform.
Zuckerberg in his more than an hour streamed video message showed him exploring VR (virtual reality) stating that the vision is the future.
He also added that within the next decade, Metaverse will reach more than a billion people. It will have a massive business of hundreds of billions of dollars and support jobs for millions of developers and creators.
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