Facebook planning to change its name : report

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Facebook is reportedly planning to rebrand the company with a new name that focuses on the metaverse. According to a source with direct knowledge of the matter, Chief Executive Officer Mark Zuckerberg is expected to announce the name at the company’s Connect conference on October 28, reports the verge.

As per the report, the rebrand would likely position the Facebook app as one of the many products under a parent company overseeing groups like Instagram, WhatsApp, Oculus, and more

Facebook first announced its plans to build out the metaverse–a term used to describe virtual, interactive spaces in the digital world last month. Facebook earlier this month announced to hire 10,000 people to help the social network build the metaverse a new phase of inter-connected virtual experiences using technologies like virtual and augmented reality (VR/AR).

We are announcing a plan to create 10,000 new high-skilled jobs within the European Union (EU) over the next five years,’ said Nick Clegg, VP Global Affair at Facebook.