The name of the holding company of the social media platform Facebook has now changed. Facebook was informed on Thursday that it will rebrand the company as Meta. In fact, for some time, there were continuous reports that Facebook is about to do a re-branding. In such a situation, now the company’s Chief Executive Officer Mark Zuckerberg has announced this on Thursday.
The tech giant said that with this change comes a new brand that will bring together its various apps and technologies. However, it has been clarified from Facebook that in this change it will not change its corporate structure. CEO Mark Zuckerberg said in a live-streamed virtual event at the company that the new name would shift its focus to building the metaverse.
Zuckerberg said at the company’s annual event, “A digital world is built on top of us, which includes virtual reality headsets and AI. We believe the Metaverse will replace mobile internet.” Notably, this year, Facebook created a product team focused on the Metaverse and recently announced the hiring of 10,000 employees in Europe over the next five years to work on this effort.
Facebook In a series of tweets from its official Twitter handle, the company informed that the names of Instagram, Messenger, and WhatsApp will remain the same.
Significantly, Facebook has invested $10 billion in the Metaverse project in 2021. In a recently released earnings report regarding this, the company announced that its virtual reality segment has grown to such an extent that it can now separate its products into two categories. Let us tell you that after changing the name, the company is preparing to employ 10 thousand people for Metaverse.
Let us tell you that in today’s era, the form of Facebook has become widespread in all the platforms of social media. According to one figure, Facebook has recorded a net income of $ 9.1 billion. This is an increase of 17 percent compared to the same quarter last year.