Facebook Now Officially Has a New Company Name – Meta

Followingprevious reportsabout Facebook changing its brand name, Mark Zuckerberg officiallyannouncedthat the company is changing its name to Meta during Facebook’s Connect 2021 event. As a result, Facebook will join WhatsApp, Instagram, and Oculus under a unified umbrella of Meta that already has an official website, a Twitter handle, and an identity of its own.

According to Zuckerberg, the move to change the name aims torepresent the company as a global brandand not just a social media company moving forward. Although the corporate structure of the company will not change, Zuckerberg says, the way the company reports its financial results will see a major change. It’s just that Facebook wants to collect its plethora of services under a single umbrella, and well, the name of its social media giant (Facebook) no longer suffices the purpose.

“We are a company that builds technology to connect. Together, we can finally put people at the center of our technology. And together, we can unlock a massively bigger creator economy. To reflect who we are and what we hope to build. But over time, I hope we are seen as a metaverse company,”Zuckerberg said during the event.The names of the apps that we build—Facebook, Instagram, Messenger and WhatsApp—will remain the same.— Meta (@Meta)October 28, 2021

The names of the apps that we build—Facebook, Instagram, Messenger and WhatsApp—will remain the same.— Meta (@Meta)October 28, 2021

Meta already has its official website namedmeta.comandan official Twitter handlewith over 13.5 million followers at the time of writing this article. The website was previously known as meta.org and was a part of the Chan Zuckerberg Science Initiative, a philanthropic wing that Zuckerberg and his wife Priscilla Chan founded in 2015. However, meta.org will be shutting down on March 31, 2022, as per a Medium post recently.

Now, coming to the change in its way of reporting financial data, the company will be following a new way starting from the fourth quarter of 2021. As per Zuckerberg, Meta plans to report on two operating segments, namely, Family of Apps and Reality Labs.

“We also intend to start trading under the new stock ticker we have reserved, MVRS, on December 1. Today’s announcement does not affect how we use or share data.” Zuckerberg wrote inan official blog postrecently.

Another major change in the company’s sub-brand involves Oculus as it will be phasing out with the emergence of Meta. The CTO of Oculus, Andrew Bosworth, recentlyannouncedthat theOculus brand will be known as Meta, starting from early 2022. The Oculus Quest product line will become the Meta Quest line and the Oculus Quest app will also be renamed to Meta Quest app.

So yeah, Facebook is no longer the parent company of Instagram and WhatsApp. Instead, the original social media platform will be a part of Meta, much like Google transitioned from a sole company to be a part of Alphabet back in 2015.

Dwaipayan Sengupta

A geek at heart, you’ll find me fidgeting with an iOS device or sitting in front of the laptop, scouring the internet to find interesting technological innovations. In my free time, you’d find me playing Valorant or listening to Pink Floyd.

Add new comment

Name

Email ID

Δ

01