Facebook is focused on building its metaverse and vouches for it as the “next big thing.” The company already has over 10,000 employees building AR and VR products, and the name change could give it a direction. Zuckerberg has publically previously said that he wants people to change people’s perception of seeing Facebook as a social media company to being a metaverse company.
After the rebrand, Facebook would continue to normally function like the social media company it is. Its products such as the “blue Facebook app,” WhatsApp, Instagram, Oculus, and more would become a part of a parent company — much like what happened to Google after Alphabet was formed. Currently, “FACEBOOK”, is the overall parent company’s name, while “facebook,” is the social network.
In addition to serving as a parent company for all sub-brands, The Verge reports that it could also help Zuckerberg separate from the “intense scrutiny Facebook is currently under.” Earlier this month, ex-Facebook Product Manager Frances Haugen revealed the shady practices of Facebook and how it chose “money over people.” All the Facebook services went down for over 6 hours after the news broke. Though Facebook says it’s related to a BGP update, many speculate that it is somewhat related to the whistleblower interview.
According to the report, the new name is a “closely-guarded secret” and not even Facebook executives know about it. The report cites that Facebook name change could something be related to “Horizon.” Facebook recently showcased an AR/VR product called Horizon Workrooms, a product for workplace collaboration.
Via: The Verge