Facebook is reportedly planning to change its company name as it shifts its focus on building the “metaverse.”
Chief executive Mark Zuckerberg is expected to discuss Facebook’s rebranding in their annual Connect conference in Oct. 28 or sooner, according to sources of tech blog The Verge.
According to the report, the new company name is heavily confidential even among executives.
The report came after Facebook recently announced that it has hired 10,000 European workers to build the metaverse where the company would eventually transition from a social media platform to a virtual and augmented reality platform.
In July, Zuckerberg told The Verge that over the next years, the metaverse will “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.”
Facebook has been promoting the metaverse project in the recent weeks amid intense scrutiny that was prompted by former employee Frances Haugen. Haugen recently leaked internal documents to The Wall Street Journal and testified against the company’s unethical practices before the U.S. Congress.
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