Meta Is a New Name of Facebook in a Major Rebrand
The Social Media Firm Has Been Accused of Harming the Mental Health of Teenage Children
Facebook has recently changed its business name to Meta as a part of its major rebranding. It has been stated by the company that it would be better to encompass what it is able to do, as they are currently trying to broaden its reach beyond the prospect of social media and into similar entertainment areas, including virtual reality (VR).
Although the name changes are not applicable to the individual platforms, such as their applications Facebook, WhatsApp, and Instagram, only the parent company has their ownership. The rebranding of the firm has followed the series of negative comments regarding Facebook, which are based on the documents that have been leaked by an ex-employee of the company.
Frances Haugen has allegedly accused Facebook, now named Meta, of putting the profits of the company over the safety of the users. In the year 2015, the reconstruction of Google occurred, and the parent company was named alphabet, although the name has yet to be unable to catch on with the firm.
Facebook, now Meta, has suffered from several hits over their reputation, and it has been reported by The Washington Post that some important information has been withheld by Facebook regarding the spread of misinformation of coronavirus vaccines from the policymakers amid the coronavirus pandemic.
Among several other things, it has also been highlighted that Instagram has harmed the mental health of teenagers and has struggled to remove any kind of hate speech from their social media platforms outside of the United States.
Rebranding of Facebook
The Chief Executive Officer of Facebook, Mark Zuckerberg has made a public announcement in which he had publicized the new name of his corporation Meta and has unveiled his future plans to construct a metaverse, which would be an online world where users would be able to play video games, communicate and work while being in a virtual environment, often by using virtual reality headsets.
He stated that the existing Facebook brand was unable to represent all of the things that the corporation is currently doing, and it is possible that it would have been unable to do so in the future, too, thus requiring change which resulted in the rebranding of the company into Meta.
During a virtual conference recently conducted, CEO Mark Zuckerberg said that over the course of time, he hopes that the company Meta is seen across the world as a metaverse firm, and he wants to anchor his identity and work on what is being constructed towards. He, alongside his team, is looking and reporting on the businesses as two separate segments. One is for their family of applications, while the other one would be working on the future platforms that are to be launched by Meta.
The adaptation of the new company branding as Meta is also part of this, as it would help in encompassing everything that our firm is currently planning, along with providing a reflection on the image of the firm and what they hope to achieve in the future.
Meta has also unveiled a new logo of the firm alongside its name on Thursday at their headquarters located in Menlo Park, California, by replacing the thumbs-up ‘like’ sign with an infinity-shaped logo in color blue.
It has been said by Mark Zuckerberg that the new name of Meta provides a reflection that over the course of time, the users would not be required to use their social media platform Facebook to avail other services provided by the firm.
The word Meta is a Greek word that means beyond
To a layman, a metaverse might look like a similar version of virtual reality, but it is believed by some people that it may evolve and become the upcoming future of the internet. Instead of physically using a computer, the user utilizing the services of metaverse would be able to use a VR headset to enter inside a world in virtual reality, which is directly connected to all kinds of a digital environment.
It is currently being hoped that the entire virtual world formed by Meta could then be used for almost any purpose throughout the world, including work, concerts, plays, and even socializing with family and friends.
It is being intended by Facebook that they are too soon start the trading of their shares under a new stock ticker, MVRS which is to be initiated from December 1.