Social media giant Facebook Inc. is currently planning to rebrand the company with a new name next week.
According to a report by The Verge, Facebook CEO Mark Zuckerberg plans to discuss this rebranding at the Connect conference held annually on October 28.
However, the rebranding may be announced earlier than expected.
The move was taken because Facebook’s position as a social media platform has obscured other subsidiaries that are under them.
So, with this rebranding — all Facebook-linked companies like Instagram, WhatsApp, Oculus and others will be under one roof, known by a new name.
We will effectively transition from people seeing us as primarily being a social media company to being a metaverse company.
Mark Zuckerberg, CEO of Facebook Inc.
The Verge also reported that Facebook’s new rebranding may have something to do with Horizon.
However, the matter is still kept secret by them.
For the record, Facebook isn’t the first tech-giant to rebrand itself. Previously, the Google company in 2015 had renamed itself as Alphabet after expanding the services it owned.
