In the last few days, Facebook has been in the limelight due to the all-new brand identity of the company as Meta. The company announced on Thursday that, from now onwards they will be known as Meta. However, the reason behind the same is that the company is going to focus on the Metaverse.
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The company changed its name after some social wars, criticism from laws regarding their powers, policing related to abuse, and decisions related to algorithms. The CEO of the company, Mark Zuckerberg said that the name change suggests investing time working in the Metaverse. However, one can easily say that people are still going to call it Facebook.
The term Meta is defined in dystopian novels. However, it was defined as “Snow Crash” probably three decades ago; it is now getting buzz in Silicon Valley. This term defines “shared virtual realm”, which means anyone with different devices can access this virtual realm.
Mark Zuckerberg said that their product is so highly rated that it can’t represent everything they’re putting into it. We all know that the company has invested very highly in augmented as well as virtual reality. Therefore, the change of name Meta is possibly going to bring back all their software under a single brand.
However, it is unlikely to change any of its corporate structure. In recent times, one of the employees of the company Frances Haugen leaked several documents related to the internal affairs of the company which clearly stated that the company is preferring profit over customers’ security.
The renowned brand Meta is likely to bring more enthusiasm among users and employees. However, Mark Zuckerberg is also expecting the same from this decision. The company has also started new trading under the stock ticker. Shares of Facebook closed 1.5% higher at $316.92 on Thursday. However, the company now is looking for a good result after the change in its name. They have even started working in the same direction.