Facebook Rebrands Itself as Meta in order to Refocus on Virtual Reality.
Facebook rebrands itself as Meta to refocus on virtual reality.
Facebook is now known as Meta, the Firm announced Thursday, in a rebranding effort centred on creating the “metaverse,” a shared virtual world that the corporation believes could eventually supplant mobile internet.
The Firm’s name change comes as the world’s largest social media firm faces increased scrutiny from politicians and regulators over its market dominance, algorithmic judgments, and policing of service misuse.
CEO Mark Zuckerberg said the new name represents his investment efforts in the Metaverse, rather than his namesake social media site, which would continue to be called Facebook.
The word “metaverse” was coined three decades ago in the dystopian novel “Snow Crash” and is gaining traction in Silicon Valley.
It is a wide term that refers to the concept of a shared virtual realm that may be accessed by individuals using a variety of devices.
“At the moment, our brand is so inextricably linked to a single product that it cannot possibly include everything we do now, let alone in the future,” Zuckerberg explained.
The company, which has made significant investments in augmented and virtual reality, stated that the change would unify its diverse applications and technology under a single brand.
The CEO stated that he would not alter the structure of his Firm.
The tech behemoth, which boasts over 2.9 billion monthly users, has been under growing scrutiny from worldwide lawmakers and regulators in recent years.
In the most recent controversy, whistleblower and former Facebook employee Frances Haugen revealed that the corporation prioritized profit before user safety.
Haugen has recently testified before a Senate subcommittee and members of the UK Parliament.
Earlier this week, Zuckerberg stated that the documents were being exploited to create a “false picture.”
In a Blog Post, the CEO of Facebook stated that it aims to begin trading on December 1 under the newly reserved ticker symbol MVRS.
She introduced a new sign at the company’s Menlo Park, Calif., headquarters on Thursday, replacing her thumbs-up. “J’aime” logo with a blue infinity symbol.
During the week, the Founder announced that its Facebook Reality Labs hardware division, which is responsible for its augmented and virtual reality efforts, would become a separate reporting unit.
And that its investment in it would reduce the company’s total operating profit to approximately $ 10 billion this year.
The corporation established a product team under this metaverse-focused entity earlier this year and recently revealed intentions to hire 10,000 personnel in Europe over the next five years to support this effort.
In an interview with the technology website The Information, Zuckerberg stated that he had not considered stepping down as CEO and had not discussed dividing the firm “really seriously.”
The division will now be known as Reality Labs, according to chief Andrew “Boz” Bosworth. Additionally, the business will discontinue utilizing the Oculus brand for its virtual reality headsets, rebranding them as “Meta” goods.
The name change, which The Verge first reported on, is a huge rebranding effort for Facebook, but not the first.
In 2019, she unveiled a new logo to distinguish the company from its social app.
The company’s image has suffered numerous setbacks in recent years, particularly with its handling of user data and monitoring abuses such as health misinformation, violent language, and hate speech.
The Federal Trade Commission of the United States also filed an antitrust complaint alleging anticompetitive behaviour.
“While this may help clear up misconceptions by distinguishing Facebook’s parent company from its founding app, a name change will not magically resolve the company’s systemic challenges,” said Mike Proulx, research director at Forrester.
Plans to phase out Facebook’s name from products such as the Portal video calling device demonstrate the company’s desire to avoid the impact of unprecedented scrutiny on the rest of its apps, according to Prashant Malaviya, a marketing professor at Georgetown University’s McDonough School of Business.
“There is no doubt that (Facebook’s name) is tarnished and poisoned,” he stated.
According to Zuckerberg, the new moniker, that derives its root from the Greek word for “beyond” signifies that there is always more to build.
On Thursday, Twitter CEO Jack Dorsey posted a new definition: “relating to itself or genre conventions; self-referential.”
Zuckerberg added that the new name reflects that customers would eventually be able to access the company’s other services without using Facebook.
Google reorganized in 2015 to form Alphabet, a new holding company, as the popular search engine expanded into new industries such as self-driving cars, broadband, and cloud computing.
Snap Inc. was also rebranded Snapchat in 2016; the company released its first pair of smart glasses.
Facebook, which released its own set of smart glasses with Ray-Ban earlier this year, announced a raft of new augmented reality and virtual reality product upgrades during Connect.
These included a mechanism for users to call friends using their Oculus VR headset and a way for people to invite others to a virtual version of their home, branded “Horizon Home.”
Zuckerberg also demonstrated the Metaverse through video demonstrations, with users logging in as avatars and being transported to digital renditions of various locations and periods.
He stated that Metaverse’s architecture should prioritize security and privacy.
People Also Ask:
Why is FB changing its name to Meta?
Is the Fасebооk арр сhаnging tо Metа?
What does Facebook mean when it says “meta”?
What is the Zuckerberg metaverse, exactly?
What exactly does Facebook’s new moniker imply?
What does Facebook’s future hold?
The company’s future would go well beyond its current ambition of developing a collection of connected social apps and supporting hardware.
Instead, he stated that Facebook would try to create a maximalist, interconnected set of experiences right out of science fiction, dubbed the metaverse.
What exactly is a meta-universe?
It’s basically a universe of infinite, interconnected virtual communities where people can meet, work, and play utilizing virtual reality headsets, augmented reality glasses, smartphone apps, and other technologies.
Who is the creator of Facebook
What is the main purpose of Facebook?
Facebook is a social networking service that allows users to connect with friends, coworkers, and strangers online by creating free profiles.
Users can share photos, music, movies, and articles, as well as their own views and opinions, with as many people as they want.
What exactly is a metaverse business?
The metaverse is essentially a universe made up of infinite, interconnected virtual communities where individuals can meet, work, and play.
However, Zuckerberg and his team are far from the only tech visionaries with ideas for how the metaverse, which will combine virtual reality and other technology, should develop.
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