Mark Zuckerberg presented the press with a perplexing piece of news that Facebook will no longer be called Facebook and will officially be changing its brand name. This is not a spur-of-the-moment decision, according to Mark Zuckerberg, and it has been in discussion for too long now. The iconic social media platform Facebook believes that the current name doesn’t interpret or brighten up the meaning of what the company has in vaults for the future and its vision for it.

That is why a change of brand name will take place in the upcoming months, as officially confirmed by the CEO Mark Zuckerberg. Facebook will ironically be called ‘Meta’ as this is the new name chosen by Mark Zuckerberg for the social media platform. Since the press release, the share of the company is trading at roughly 3% up, which is in correspondence with the new rebranding, which Facebook will commence in the upcoming months.

In his statement, Mark Zuckerberg said that until this day, people think that Facebook is a social media company, but he believes that Facebook is a company that is given a rather complicated and important task. That is to develop new technology and help the people to embrace it and connect with each other. He believes that ‘Metaverse’ is the very next frontier for Facebook, and that is where the company will be heading for. Reportedly Facebook will be redirecting $10 billion into its ‘Metaverse’ division, and it will help the company to oversee its virtual and augmented reality projects.

Mark Zuckerberg said that this is an investment that might not bring profit in the near future, and the company is well aware of it, but in the long run, this technology will go mainstream, and Facebook will become the company that would have worked and presented this technology to the people. The rebranding news is the backfire of all the criticism Facebook has been receiving for some time now regarding how it deceived the investors and the public regarding all the hate speech and misinformation that it manages on the platform.

Mark Zuckerberg thinks that this is entirely ridiculous and but a blame game that is being played here, and this is not a very enchanting environment to introduce or rebrand Facebook, so they are just going to wait out for a better time to do this.