Facebook changes it name to Meta

Facebook changes its corporate name to Meta on Thursday as part of its rebranding as it aggressively moves away from the social-media business entangled in crisis. The company aims to rebrand itself as a forward-looking creator of a new digital world known as 'Metaverse'. Mark Zuckerberg, Facebook's CEO in a 75-minute online presentation urged users to adjust their thinking about the company, which he says has outgrown its ubiquitous and problematic social media app- Facebook, which will continue to be known as the same. Further, Zuckerberg added that the company will now focus on what he described as the next wave of computing- a virtual universe where people can float freely as avatars, attend virtual business meetings, shop and even socialize at virtual get-togethers. 

"From now on, we’re going to be the metaverse first. Not Facebook first. Facebook is one of the most-used products in the world. But increasingly, it doesn’t encompass everything that we do. Right now, our brand is so tightly linked to one product that it can’t possibly represent everything we are doing", Zuckerberg said at Connect- the company's annual event focused on virtual reality and augmented reality. 

Source: The Washington Post