Facebook has changed its corporate name to Meta as part of a major rebranding effort that comes as the company faces a series of public relations challenges.
At Facebook’s annual conference on Oct. 28, Chief Executive Mark Zuckerberg announced the new name for its umbrella company and outlines plans go into virtual reality, including a digital world called “metaverse.”
“To reflect who we are and the future we hope to build, I’m proud to share that our company is now Meta,” Zuckerberg said.
“Our hope is that within the next decade, the metaverse will reach a billion people, host hundreds of billions of dollars of digital commerce, and support jobs for millions of creators and developers,” Zuckerberg also said.
The name change does not apply to the company’s individual platforms, such as Facebook and Instagram.
Facebook also said that the name change does not affect how they use or share data and it also does not change their corporate structure.
The company also unveiled a new logo at its headquarters in Menlo Park, California, replacing its thumbs-up “Like” logo with a blue infinity shape.
The announcement comes amid a series of recent reports based on documents leaked by former employee Frances Haugen, who accused the company of prioritizing “profits over safety.”
The reports exposed toxic business practices, internal knowledge of its long-term negative impact on public health, and its struggle to remove hate speech from its platforms overseas.
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