Facebook Rechristens Itself To Meta; App Name Will Continue To Be FaceBook

The world renowed messenger company has rechristened itself to Meta. In a rebranding exercise, the company says it has changed its name in order to focus on developing the 'metaverse'- a shared digital or virtual environment that will be following the disruptor mobile internet.

Facebook Rechristens Itself To Meta; App Name Will Continue To Be FaceBook

The name change is seen at a time when the social media giant is facing criticism from regulators and policymakers with regard to its market power, algorithmic decisions and the policing of abuses on its services.

CEO Mark Zuckerberg, speaking at the company's live-streamed virtual and augmented reality conference said that the name change is in sync with the company's investment into metaverse, instead of the name sake social media service that will continue to be referred to Facebook.

On the messenger site there is reflecting a message that 'Connection is evolving and so is our company'. The Facebook company is now called Meta, helping take connection beyond 2D screens and into the metaverse. The Facebook app will not change its name.

Facebook continues to face strict scrutiny of late

Of late the company has been facing strict srutiny and in a recent incidence one of the company's employee exposed papers wherein the company is shown to be giving preference to profit over safety. Nonetheless, the company is to start trading under a new ticker MVRS, on Dec. 1. On Thursday, it unveiled a new sign at its headquarters in Menlo Park, California, replacing its thumbs-up "Like" logo with a blue infinity shape. Facebook shares closed 1.5% higher at $316.92 on Thursday.

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