The social media company Facebook.Inc has changed its name to Meta. CEO Mark Zuckerberg announced the name change at the company’s virtual-augmented reality conference yesterday.
Speculations about the name change have been in the air since last week and there were reports that the name would be related to the word ‘Horizon.’ But the new name is directly linked to the company’s dream project of ‘metaverse.’
From now on, the name Facebook will be exclusively used to refer the company’s social media platform. Other platforms such as WhatsApp, Instagram and Oculus owned by the company will continue to bear the respective names.
“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,” Zuckerberg said while talking at the conference.
Meanwhile Facebook is facing legal allegations and criticisms for loosely handling issues like terrorism and child safety. Scrutiny over the company policies are going on in the US as well. Amid these issues, the company had shown a surge in profit for the third quarter of the year with users increasing 6% within a year.