Facebook has changed its corporate name to Meta as part of a major rebrand that focuses on its ambitions building the "metaverse." The word "meta" comes from the Greek word meaning "beyond".
The company also unveiled a new sign at its headquarters in Menlo Park, California, on Thursday, replacing its thumbs-up "Like" logo with a blue infinity shape.
The company said it would better "encompass" what it does, as it broadens its reach beyond social media into areas like virtual reality (VR).
“I am proud to announce that, starting today, our company is now Meta.”— The Recount (@therecount) October 28, 2021
— CEO Mark Zuckerberg announces Facebook’s new name. pic.twitter.com/6YYaEKcufj
The name change comes as the world's largest social media company battles criticisms from lawmakers and regulators over its market power, algorithmic decisions and the policing of abuses on its platforms, reported Reuters.
The change however does not apply to its individual platforms, such as Facebook, Instagram and Whatsapp, only the parent company that owns them.
In 2015, Google restructured its company calling its parent firm Alphabet, however, the name has not caught on.
Facebook boss Mark Zuckerberg announced the new name as he unveiled plans to build a "metaverse" - an online world where people can game, work and communicate in a virtual environment, often using VR headsets.
He said the existing brand could not "possibly represent everything that we're doing today, let alone in the future", and needed to change, reported BBC.
"Over time, I hope that we are seen as a metaverse company and I want to anchor our work and our identity on what we're building towards," he told a virtual conference.
"We're now looking at and reporting on our business as two different segments, one for our family of apps, and one for our work on future platforms.
"And as part of this, it is time for us to adopt a new company brand to encompass everything that we do, to reflect who we are and what we hope to build," he added.
Zuckerberg said the new name reflects that over time, users will not need to use Facebook to use the company's other services.
Copyright 2022 Al Hilal Publishing and Marketing Group