Business & Investment

Facebook will soon be rebranded with a new name: Report

Facebook Inc. May soon be a new name.

Reported by The Verge That Facebook Tuesday night
FB,
+ 1.39%

Without much focus on the social network of the same name, we plan to change the company name next week to match the brand name to the “Metaverse” that CEO Mark Zuckerberg envisions. Instagram, WhatsApp and Oculus are also currently under Facebook.

The name change is expected to be revealed at Facebook’s annual Connect conference on October 28, or perhaps earlier, The Verge reported.

On Monday, Facebook said it Create 10,000 new jobs The European Union will build a metaverse over the next five years to build a 3D virtual environment using AR and VR technologies. This allows users to play games, work, and buy with friends.

The new name may be similar to what Google did in 2015 and will name the parent company Alphabet Inc.
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+ 0.32%

Google,
+ 0.60%
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With search engine companies and other units under their umbrella.

Facebook’s apparent rebranding is happening in a series of scandals and negative news, including Facebook ignoring the data it found on the platform. Hurt young users,Deliberately Amplified radicalism, And consistently supported Profit above people..

The company plans to announce its third quarter earnings on October 25th. Despite the scandal, Facebook’s share has so far increased by about 24% compared to the S & P 500.
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+ 0.74%

20% gain.

Facebook will soon be rebranded with a new name: Report

http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-76E2-F1877263CD42%7D&siteid=rss&rss=1 Facebook will soon be rebranded with a new name: Report

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