From Facebook to Meta; Facebook Changes Its Name to Emphasize Metaverse Business Vision
Social media giant Facebook Inc. said Thursday it has changed its name to Meta to focus on its metaverse business based on virtual and augmented reality platforms.
The rebranding came after critics accused Facebook of trying to divert attention from controversies over its strategies and a whistleblower alleged the company was doing little to screen harmful information.
“The defining quality of the metaverse will be a feeling of presence — like you are right there with another person or in another place,” said CEO Mark Zuckerberg in a letter on the company website.
“The metaverse is the next frontier in connecting people, just like social networking was when we got started,” he said.
The company has suffered tremendous reputational damage in recent years. In 2018 there was a massive leak of users’ personal information. Allegations of a flawed internal structure and working culture have also come to light.
Most recently a former employee leaked documents allegedly exposing Facebook’s willingness to prioritize profits over stopping the spread of misinformation and hate speech.
