Facebook to rebrand with a new name

Facebook is planning to rebrand the company by changing its name by next week to “reflect its focus on building a metaverse,” according to The Verge.

The rebrand is likely to be announced at the next Oculus event on October 28 by CEO Mark Zuckerberg.

The Facebook App will be put under a new parent company alongside Instagram, WhatsApp and Oculus – Similar to what Google did in 2015, placing all of its applications and divisions under its parent company Alphabet.

Facebook has long been planning to set up a metaverse. Manufacturing Augmented reality (AR) Glasses which Zuckerberg says will be “ubiquitous” in the near future. Developing “Horizon,” the still unreleased Virtual reality (VR) version of Facebook-meets-Roblox for the past few years.

Recently, the company had announced the recruitment of 10,000 employees to work on the Facebook metaverse in Europe.

The metaverse is “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,” Zuckerberg told The Verge this summer.

“I think it’s going to be the next big chapter for our company too, really doubling down in this area,” he added.

As the company is under staunch criticism from all corners of society, it is now looking for ways to bring back its lost respect and trust, which many experts call a PR disaster.

Facebook so far, has somehow managed to stay afloat even after the constant but consistent criticism. If the brand is renamed, then Facebook would hope to get a short break until it develops a long-term, user-friendly policy to announce that it is no longer the “bad guy.”