Facebook is changing its name! Facebook will now no longer be called Facebook as it is being replaced with the name Meta. The CEO of Facebook Mark Zuckerberg, announced the news recently at the company’s Connect event last night. However, all the names of the apps owned by the company such as Facebook, Instagram, and Watsapp will remain the same. Only the name of the parent company will change, which was Facebook before. Now it will be called Meta. This decision of rebranding was made after the World’s largest social Media Facebook faced a lot of criticism from lawmakers and regulators over its market power, algorithmic decisions, and the policing of abuses on its platforms.
The sudden announcement has left the users of the Facebook platforms in a state of confusion. People have many questions like - Why are they changing their name? What is the meaning? And What now? To answer your queries we at Puminati Digital present you 5 key things to know about Facebook’s New Name - Meta.
Why the name change?
This decision of rebranding was made after the World’s largest social Media Facebook faced a lot of criticism from lawmakers and regulators over its market power, algorithmic decisions, and the policing of abuses on its platforms. Mark Zuckerberg said in the event “Facebook just doesn’t encompass everything the company does anymore. In addition to its primary social network that now includes Instagram, Messenger, Its Quest VR headset, its Horizon VR platform, and more”. He further explained - “Today we are seen as a social media company, but in our DNA we are a company that builds technology to connect people”. He also said that Metaverse will be the next way how people interact with computers and people.
Meta: Meaning and significance
The term Metaverse first appeared in a dystopian novel almost three decades ago. The term refers broadly to the idea of the shared virtual environment which can be assessed by people using different devices. The word Meta means that there is always something more to build. Mark Zuckerberg stated that - the “Meta” word has been derived from the Greek word that means “beyond”.
Apps, brands aren’t changing: Zuckerberg
Social Media Giant Facebook’s CEO has said in a letter that the name change would not affect how all of the apps work. Everything will remain the same except the name of the parent company will change. He stated - “Our apps and their brands aren’t changing either. We’re still the company that designs technology around people”. There will be no change in how you use Facebook, WhatsApp, and Instagram. From now on, the only change there is that the company will be Metaverse first and not Facebook first. Meta will not just be a social media company instead all the social media apps will be a part of it.
Is Facebook changing its logo too?
Yes, they are going to change the company’s logo which they revealed in their headquarters at Menlo Park, California. The company has come up with a new logo that looks like an infinity sign which will be replacing its earlier Thumbs up logo. They also intend to start trading under the new stock ticker it has reserved, MVRS, from December 1.
What is Mark Zuckerberg profile’s now?
According to Mark Zuckerberg’s personal Facebook page, his title has been changed to “Founder and CEO at Meta”. When asked about his plans to remain CEO at Facebook in the next 5 years, Mark told The Verge, “Probably. I don’t have a specific date how long I want to be doing this for. I guess what I could say is I’m very excited about the next chapter of what we’re doing”.
Facebook hiring plans for Metaverse
Facebook has recently created a product team keeping in mind the Metaverse. Facebook also announced that it will hire around 10,000 employees during the next 5 years to work in the effort to make this company reach greater heights.
Conclusion
Additionally, Meta also announced its new virtual reality headset named Project Cambria. The headset will be a high-end product that will be available at a higher price than the Quest 2 headset, the company said in a blog post. They also mentioned that Project Cambria will be released around next year in 2022. The newly formed Meta also announced the code name of its first fully AR-capable smart glasses: Project Nazare. The glasses are “still a few years out,” the company said in a blog post. Mark also said, “We still have a ways to go with Nazare, but we’re making good progress.”
With Meta, they are planning to concentrate on many new things that will be available in the coming future and we all are looking forward to it. For more such interesting blogs and news head over to our blog section.
