Facebook is changing its company name to “Meta” as it shifts its sights to focus on the so-called “metaverse.” This also comes on the heels of yet more intense scrutiny of the real-world harms that come from its various platforms after a whistleblower released hundreds of damaging internal documents.
Facebook, the app, is basically being “demoted” by the change, and will sit equally among the company’s other apps like Instagram and WhatsApp. This rebranding is clearly in response to a number of public relations explosions on its platforms such as revelations about the negative effects of the products have on some users’ (especially children), the spreading of misinformation on its platforms and the failure to moderate inappropriate content.
The press release from Facebook/Meta stated they will begin trading under the stock ticker MVRS on December 1.
The company has also iniated a logo change and already replaced their corporate sign. Outside their California headquarters their once ubiquitous thumbs-up sign as been replaced with a blue infinity symbol.
The company announced no executive changes. Zuckerberg’s personal Facebook page now lists his job as “Founder and CEO at Meta.”
The Verge asked Zuckerberg thought he’d still be the CEO at Facebook/Meta in the next five years. He replied “Probably. I don’t have a specific date how long I want to be doing this for. I guess what I could say is I’m very excited about the next chapter of what we’re doing.”