New Name For Facebook?

DY365
DY365
Published: October 20,2021 12:17 PM
DY365

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Facebook Chief Executive Officer Mark Zuckerberg plans to talk about the name change at the company's annual Connect conference on Oct. 28 or sooner, the reports said.

October 20, 2021: Social media giant Facebook Inc is planning to rebrand itself with a new name, media reports said.



Facebook Chief Executive Officer Mark Zuckerberg plans to talk about the name change at the company's annual Connect conference on Oct. 28 or sooner, the reports said.



Facebook, however, termed the reports as "rumour or speculation."



The news comes at a time when the company is facing increasing U.S. government scrutiny over its business practices. Lawmakers from both parties have excoriated the company, illustrating the rising anger in Congress with Facebook.



It's not uncommon in the Silicon Valley for companies to change their names as they bid to expand their services.



Google established Alphabet Inc as a holding company in 2015 to expand beyond its search and advertising businesses, to oversee various other ventures ranging from its autonomous vehicle unit and health technology to providing internet services in remote areas.



Facebook is also working on building the so-called metaverse, an online world where people can use different devices to move and communicate in a virtual environment, according to the report. It has invested heavily in virtual reality (VR) and augmented reality (AR) and intends to connect its nearly three billion users through several devices and apps.