Facebook has changed its name to reflect its attention towards its “metaverse” and faces a broad-based scrutiny of the actual harms caused by its different platforms following a whistleblower leaked hundreds and hundreds of internal documents.
The company’s founder Mark Zuckerberg said Thursday that Facebook is changing their corporate logo change to Meta and will essentially reduce the Facebook brand to just one of its subsidiaries, along with Instagram and WhatsApp and not the overall brand.
The former Facebook company Facebook has also stated in an press announcement that it would start trading under the ticker “MVRS” on December 1.
A Rebranding might be one of the elements in a strategy to revamp Facebook’s image to turn the page after several PR disasters that include misinformation about its platforms, failures in content moderation and revelations regarding the negative impact its products can have on users and their mental health.
Changes in the name, made public by Zuckerberg during Facebook’s virtual reality and AR gathering Facebook Connect is in line with the company’s increasing attention to the metaverse that is the attempt to integrate virtual and augmented reality technology to create a new virtual world.