According to a source with direct knowledge of the situation, Facebook will rebrand the firm with a new name next week, according to The Verge. Facebook CEO Mark Zuckerberg intends to discuss the name change at the company’s annual Connect event on October 28th, but we may learn more things sooner.
Facebook might change its name after revealing the metaverse project
On Sunday, Facebook announced that it will hire 10,000 individuals in Europe over the next five years to focus on the metaverse, which it considers a crucial element for the future of the company.
According to The Verge’s report, Zuckerberg said that: “The metaverse is “going to be a big focus, and I think that this is just going to be a big part of the next chapter for the way that the internet evolves after the mobile internet.”
Last month, Frances Haugen, a former Facebook employee, has accused the company of encouraging hate speech for profit on a TV show called 60 Minutes.
Right after that, Facebook experienced a six-hour outage that took it offline with Instagram, Messenger, Whatsapp, and OculusVR. It was caused by a router configuration change rather than a hack or attempt to gain access to user data.
The rebranding might occur at a time when Facebook is under fire for a number of issues. The company is still being investigated by the U.S. government for possible antitrust violations.
