Facebook rebranded Meta. what’s changed what hasn’t
Zuckerberg said the new name reflects the work of investing in Metaverse rather than the social media services of his name.
Facebook Inc. Its co-founder and CEO Mark Zuckerberg says his company is now Meta Platforms Inc. Or will be known as Meta, in recognition of the promise of development of the submerged digital world known as Metaverse.
Speaking at the company’s live-streamed virtual and augmented reality conference, Zuckerberg said the new name reflects the work of investing in Metaverse rather than social media services. “We’ve learned a lot from fighting social issues and being under closed forums, and it’s time to embrace what we’ve learned and help create the next chapter,” Zuckerberg said.
“I am proud to announce that from today our company is now meta. Our mission remains the same, yet it is to bring people together, our apps and their brand, they are not changing,” he said.
Read more | Facebook will be called Meta for its ‘metaverse’ approach
Zuckerberg said Facebook’s name no longer covers everything in the company. “Today we are being seen as a social media company,” Zuckerberg said. “But in our DNA we are a company that creates technology to connect people.”
The Facebook app is not changing its name, nor is Instagram, WhatsApp and Messenger. The company’s chief executive and senior leadership, its corporate structure will not change. But from December 1, its stock will start trading under the new ticker symbol MVRS.
Metaverse is a term coined by Neil Stephenson in his 1992 dystopian novel “Snow Crash” where people use virtual reality headsets to communicate in the digital world like games.
Zuckerberg described the metavers as a “virtual environment” where you can go inside instead of looking at the screen. People can meet, work and play using virtual reality headsets, augmented reality glasses, smartphone apps or other devices.
According to Victoria Petrock, an analyst who follows emerging technologies, it will also cover other aspects of online life such as shopping and social media.
Zuckerberg says he expects Metavers to reach one billion people in the next decade and he hopes the new technology will create millions of jobs for manufacturers.
In an interesting twist, the Chan Zuckerberg Initiative, a philanthropic organization run by Zuckerberg and his wife Priscilla Chan, bought in 2017 a Canadian scientific literature analysis company called Meta.
The iconic thumbs-up sign that had long been outside the Facebook headquarters in Menlo Park, California, was repainted in a blue, pretzel-shaped logo that looked like an infinite symbol.
Facebook rebranded Meta. what’s changed what hasn’t
(Except for the headline, this story has not been edited by News East India staff and is published from a syndicated feed.)
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