A report is going around that Facebook is gearing up to change the company name next week to reflect a focus on building a metaverse. Reports of the name change come from a source who claims to be familiar with Facebook’s plans. According to the claim, the announcement of the changing name will come on October 28 from CEO Mark Zuckerberg at the annual Connect conference.
However, the source does claim the name change could be announced before that event. By changing its name, Facebook is attempting to become known for more than social media, which has been under fire for negatively impacting some users. The name change would be similar to what Google did when it became a component under the Alphabet company umbrella.
Facebook would continue as a product under a parent company of a different name. Such a move would allow other Facebook-owned properties, including Instagram, WhatsApp, and Oculus, to coexist under one company umbrella. Zuckerberg has stated previously that he wants Facebook to transition from a company primarily seen as a social media company to being seen as a “metaverse” company.
Facebook is under fire from many over alleged censoring of content and other issues. By rebranding and bringing it and other components under a different company umbrella, it could possibly allow some of the other Facebook-owned properties to avoid splash back from woes suffered by Facebook.
Currently, antitrust regulators both in the US and abroad are considering breaking Facebook as a company up. Perhaps rebranding with a different parent company name could head off some of the legal woes the company is currently facing. While the name is unknown, speculation suggests it could be Horizon or something containing Horizon.