Facebook changes name to ‘Meta’
Facebook Inc (FB.O) is now called Meta, the company said on Thursday, in a rebrand that focuses on investing in the “metaverse” — a shared virtual environment that it bets will be the successor to the mobile internet.
The name change comes as the social media company battles criticism from lawmakers and regulators over its market power, algorithmic decisions, and the policing of abuses on its services.
CEO Mark Zuckerberg said the new name reflected its ambitions to build the metaverse, rather than its namesake social media service, Facebook.
“Right now, our brand is so tightly linked to one product that it can’t possibly represent everything that we’re doing today, let alone in the future,” said Zuckerberg.
The change would bring together its different apps and technologies under one new brand, the company said. It said it would not change its corporate structure.
