Facebook has actually been rebranded as MetaFacebook Inc is now called Meta, the company said on Thursday, in a rebrand that concentrates on its ambitions building the metaverse, a shared virtual environment that it bets will be the next big computing platform.The rebrand comes as the world's largest social networks business fights criticisms from legislators and regulators over its market power, algorithmic decisions and the policing of abuses on its platforms.CEO Mark Zuckerberg, speaking at the company's live-streamed virtual and augmented reality conference, stated the brand-new name showed its ambitions to develop the metaverse, rather than its namesake social media service.The metaverse, a term first created in a dystopian unique three decades earlier and now drawing in buzz in Silicon Valley, refers broadly to the idea of a shared virtual environment which can be accessed by people using various devices.
Right now, our brand name is so securely connected to one item that it can't possibly represent whatever that we're doing today, let alone in the future, said Zuckerberg.The business, which has actually invested greatly in enhanced and virtual reality, stated the change would combine its different apps and technologies under one new brand.
It stated it would not change its corporate structure.The tech giant, which reports about 2.9 billion regular monthly users, has actually dealt with increasing scrutiny in the last few years from worldwide legislators and regulators.In the current controversy, whistleblower and previous Facebook employee Frances Haugen dripped files which she stated showed the business selected earnings over user safety.
Zuckerberg previously this week stated the documents were being used to paint a false image.
The company stated in a post that it means to start trading under the brand-new stock ticker it has actually booked, MVRS, on Dec.
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On Thursday, it revealed a new sign at its headquarters in Menlo Park, California, replacing its thumbs-up Like logo design with a blue infinity shape.Facebook said today that its hardware division Facebook Truth Labs, which is responsible for AR and VR efforts, would end up being a separate reporting unit which its financial investment in it would reduce this year's total operating revenue by about $10 billion.
The unit will now be called Reality Labs, its head Andrew Boz Bosworth tweeted on Thursday.Zuckerberg said the new name also shows that with time, users will not need to utilize Facebook to use the company's other services.This year, the business created a product team concentrated on the metaverse and it just recently announced strategies to work with 10,000 employees in Europe over the next five years to deal with the effort.