Facebook has made it official, they are rebranding themselves as Meta. It clearly states their ambition on being the world’s largest social network by building the “Metaverse”. The logo has also been changed from its thumbs-up “like” logo to a blue infinity shape.
BREAKING: Facebook changes its name to 'Meta' pic.twitter.com/TuODxWtWgJ
— Fintwit (@fintwit_news) October 28, 2021
Mark Zuckerberg spoke at the company’s live-streamed virtual and augmented reality conference. He explained that the new name reflected its focus on building this virtual realm rather than social media services.
The metaverse refers to the idea of a virtual environment which can be accessed by various people using different devices.
The corporate structure will not change, however it will bring together its different apps and technologies all under one new brand.
The company intends to start trading undder the new stock sticker it has reserved, MVRS, on December 1st.