Giant social media platform, Facebook, has announced the change of its name to Meta.
In an announcement made by the company's Chief Executive Officer and co-founder, Mark Zuckerberg, on Thursday, October 28, he stated that the holding company will now be called Meta.
Zuckerberg explained the reason behind the name change stating it is part of the rebranding, representing a new future for the platform.
Speaking at the company’s live-streamed virtual and augmented reality conference, he, however, noted that Facebook, Instagram, and WhatsApp will retain their names.
"We've learned a lot from struggling with social issues and living under closed platforms, and now it is time to take everything that we've learned and help build the next chapter," Zuckerberg shared during the developers conference.
He added, "Our apps and their brands, are not changing."
In the new future envisioned by Zuckerberg, the social media platform will encompass everything the company is planning to implement.
The tech giant insisted that the change would bring together its different applications and technological innovations under one brand, but its corporate structure will remain unchanged.
“Right now, our brand is so tightly linked to one product, but over time, I hope we are seen as a metaverse company.”
Metaverse refers to the idea of shared virtual environment which can easily be accessed by people using different devices. It was coined in a dystopian novel over three decades ago.
The CEO further assured users that privacy will be built into the metaverse.
