Facebook will reportedly be undergoing a major rebrand. The company is said to be changing its name and restructuring a focus that is centred on building the metaverse.
According to a report from The Verge, CEO Mark Zuckerberg plans on unveiling the rebranded name at the company’s annual Connect conference. The conference is due to be held on October 28. However, it’s said that the new name could be released sooner.
It’s rather unlikely that the company will walk away from the Facebook name entirely. Rather than rebrand the parent company and the popular social media app as well, the Facebook platform may still hold its name. This could be similar to what Google did in 2015 during its Alphabet name structuring.
The Facebook company rebrand comes at a time when Zuckerberg wishes to focus on building the metaverse. As a part of this, the company has more than 10,000 employees building consumer products focused on virtual and AR experiences. Earlier in September, Facebook partnered with Ray-Ban and released the Ray-Ban Stories AR glasses. Facebook also announced that it would be hiring 10,000 additional employees to help build the metaverse earlier this week. Andrew Bosworth, Facebook’s head of AR and VR, is also reported to be promoted to CTO.