Facebook plans to change its name – The Verge
A 3D-printed Fb brand is seen positioned on a keyboard on this illustration taken March 25, 2020. REUTERS/Dado Ruvic/Illustration
Oct 19 (Reuters) – Social media big Fb Inc is planning to rebrand itself with a brand new identify subsequent week, the Verge reported on Tuesday, citing a supply with direct information of the matter.
Fb Chief Government Officer Mark Zuckerberg plans to speak in regards to the identify change on the firm’s annual Join convention on Oct. 28, but it surely could possibly be unveiled sooner, the Verge reported.
In response, Fb stated it doesn’t touch upon “rumor or hypothesis.”
The information comes at a time when the corporate is dealing with growing U.S. authorities scrutiny over its enterprise practices. Lawmakers from each events have excoriated the corporate, illustrating the rising anger in Congress with Fb.
The rebranding would place Fb’s social media app as certainly one of many merchandise underneath a father or mother firm, which may even oversee teams like Instagram, WhatsApp, Oculus and extra, the Verge report added.
It isn’t unusual within the Silicon Valley for corporations to vary their names as they bid to broaden their providers.
Google established Alphabet Inc as a holding firm in 2015 to broaden past its search and promoting companies, to supervise numerous different ventures starting from its autonomous car unit and well being know-how to offering web providers in distant areas.
The transfer to rebrand may even replicate Fb’s give attention to constructing the so-called metaverse, a web-based world the place individuals can use totally different gadgets to maneuver and talk in a digital surroundings, in line with the report.
Fb has invested closely in digital actuality (VR) and augmented actuality (AR) and intends to attach its practically three billion customers by a number of gadgets and apps.
The corporate additionally introduced plans on Tuesday to create 10,000 jobs within the European Union over the subsequent 5 years to assist construct the metaverse.
Zuckerberg has been speaking up metaverse since July and the buzzy phrase, first coined in a dystopian novel three a long time earlier, has been referenced by different tech corporations corresponding to Microsoft.
Reporting by Shivam Patel in Bengaluru; Extra reporting by Shubham Kalia, Bhargav Acharya and Juby Babu; Enhancing by Rashmi Aich and Anil D’Silva
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