According to a rumor, Facebook plans to change its company name next week to reflect its focus on the metaverse.
The reason for the renaming, which The Verge claims to have heard from an informant, is to reflect the company’s product diversity. CEO Mark Zuckerberg plans to announce this at the annual Connect conference on October 28.
The new name is kept in strict confidence. Not even all members of the management know it. It is speculated that it may be related to Horizon, the company’s new product, unveiled in August. This is a network of virtual offices that you can connect to via video conferencing or using the Oculus VR headset.
According to a source, The Verge reports, the name change is intended to signal an expanding field for the tech giant. Facebook wants his name to be associated with more than just social media.
Apparently, the rebranding should help position Facebook as just one of many products from the firm that also controls Instagram, WhatsApp, Oculus and several other companies.
Facebook didn’t comment on the rumors.