Menlo Park’s Facebook Inc rebrands to ‘Meta’ as it bets big on virtual reality

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Menlo Park’s Facebook Inc rebrands to ‘Meta’ as it bets big on virtual reality

On Thursday, Facebook Inc., the Menlo Park, California-headquartered social networking megalith, had issued a statement saying that the company had been rebranded to ‘Meta,’ largely in a bid to create a virtual reality world, “Metaverse,” remarking the steepest overhaul ever the mega-cap tech conglomerates had witnessed.

Nonetheless, if truth is to be spoken, latest Facebook Inc move to change its name, which the social networking behemoth had branded as a part of its stratagem to metamorphosize the next big computing platform, came against the heels of a cascade of corrosive criticisms from anti-trust regulators and lawmakers over its abuse of platform, algorithms that were blamed to be behind the January 6 Capitol Hill riot and many others around the globe, alongside the Californian social media company’s loudmouthed attempt to add a new dimension to monopolization given its ownership of top four out of six leading internet services providers.

Facebook changes name to Meta, to begin trading as ‘MVRS’ on Dec. 1

Aside from that, in a blog post, the social media monolith had told that it had been brewing off an option to start trading on December 1 under a new ticker symbol, ‘MVRS,’ what it already had reserved, while the company also had unwrapped a new sign at its Menlo Park HQ and replaced the previous ‘thumbs-up’ logo with a ‘blue infinity.

Meanwhile, speaking in a live-streamed virtual and augmented reality conference, Facebook Inc Chief Zuckerberg was quoted saying that the new name had illustrated the company’s ambition to build the ‘Metaverse’ rather than just being a social media platform adding “Right now, our brand is so tightly linked to one product that it can't possibly represent everything that we're doing today, let alone in the future”.

The term ‘Metaverse,’ had been tossed up in a ‘dystopian’ novel about three decades ago and could be defined as a concept of a shared virtual environment that could be accessed by different people with different devices.