While Facebook refuses to confirm or deny, The Verge has cited the news from a trusted inside source, so it’s as good as fact. The new name will be part of a complete rebrand for Facebook’s parent company.
But with more than 2.8 billion monthly users, the biggest question is:
Why might Facebook be planning such a significant change?
About six months ago Mark Zuckerberg shared that Facebook no longer wants to be known as a social media company. Well, right now Facebook is known as THE social media company, so that is nothing short of an ambitious goal. It is hard to imagine Facebook being synonymous with anything besides social media… and controversy. As a business evolves, the brand needs to evolve to reflect the future of the company. A new name for the Facebook parent company will be a necessary change to step into this aspirational new brand.
Right now, the aspiration is to evolve into a metaverse company. This is described as a virtual world that blends aspects of digital technologies. Personally, thoughts of Ready Player One sci-fi scenes come to mind, which is not too far off considering Facebook already owns Oculus Virtual Reality.
Will this rebrand help Facebook reach astronomical success as a metaverse company? Can Facebook shake its bad reputation and trust issues with the public? We’d love to hear your thoughts!