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Facebook will change its name as part of the company’s brand change report | Facebook

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Facebook reports that it plans to break the past dramatically by rebranding the company next week.

Facebook founder and CEO Mark Zuckerberg will talk about the name change at a company event next week, but could be announced sooner, according to US tech news website Verge. I reported.

Facebook said in a statement that it did not comment on rumors or speculation.

The plan is for Facebook to change the name of the holding company, but not the name of the social media platform that bears its name, internally known as the Big Blue app. The company owns not only its founding site, but also Instagram, WhatsApp, and the virtual reality brand Oculus.

The Verge reported that the new name of the holding company may be linked to the language used in at least two virtual reality products it is developing. Zuckerberg started his company as The Facebook 17 years ago.

Facebook is reportedly pondering the brand change against the backdrop of the worst public relations crisis since the Cambridge Analytica scandal three years ago. Former employee Frances Haugen leaked tens of thousands of documents and gave terrible testimony to the US Senator, who she said Facebook prioritized astronomical interests over people.

According to Verge, VR is driving the name change as the company focuses on building the Metaverse as the basis for its new growth strategy. The Verge reported that the brand change could be announced at its annual product conference, Connect, on October 28, when the details of the Metaverse will be announced.

Oculus products are an important product of the Metaverse, a loosely defined concept that involves living a social and professional life and interacting with others through augmented reality through VR headsets. In the popular Kumon Go game.

Facebook is developing a social virtual reality platform called Horizontal Worlds and a virtual reality meeting service called Horizontal Workspaces. Nick Clegg, Facebook’s vice president of global affairs, said Monday morning’s meeting will be held in the Metaverse using virtual tables and whiteboards.

According to Facebook, the company’s products have just under 2.8 billion users per day, but Zuckerberg is renowned for its focus on growth.

Facebook’s share has grown 25% since January this year and is doing well, with the overwhelming majority of revenue from advertisers targeting its user base valued at just under $ 10 trillion (730 billion). However, the company’s share price fell below its September peak.

Facebook is facing great pressure following Hogen’s revelation. A former Facebook product manager who left the company in May told US Congress that the company is harming children and destabilizing democracy. Haugen has leaked many documents to The Wall Street Journal, including showing an internal investigation revealing that 30% of teenage girls feel that Instagram has exacerbated their dissatisfaction with their bodies. It was behind.

In response, Zuckerberg wrote in his blog post: At the heart of these criticisms is the idea that profits are prioritized over safety and well-being. That is not true.

Facebook is preparing for a wave of further exposure this week after posting a series of tweets accusing an unnamed press of planning a pitfall campaign against the company.

For news organizations that want to move beyond organized pit campaigns, we’re ready to work on that content. -John Pinet, VP Communication

— Facebook Newsroom (@fbnewsroom) October 18, 2021

The company is fighting a number of regulatory and legislative battles, including attempts by US competition regulators to force business splits. Facebook alleged that a British analyst deceived users about its ability to keep personal information private after a year-long investigation into Cambridge Analytica’s data breaches, which collected millions of U.S. Facebook profiles. Was fined $ 5 billion by the US Federal Trade Commission. Voter.

This month, Facebook, WhatsApp, and Instagram went offline for five hours after a failed regular maintenance, disrupting all Facebook services, including corporate communications and physical security services.

Haugen told Congress that Facebook hadn’t been used for more than five hours to deepen divisions, destabilize democracy, and make young girls and women uncomfortable. ..

Facebook’s rebranding move, if it progresses, is not unprecedented. In 2015, Google changed its brand name as Alphabet, reflecting its determination to enter new areas of technology such as self-driving cars.

Sources

1/ https://Google.com/

2/ https://www.theguardian.com/technology/2021/oct/20/facebook-plans-to-change-its-name-as-part-of-company-rebrand-report

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