Updated: Dec 8, 2021
A lot of people are confused about what Meta is and its relation to Facebook, but few can say what has changed or is about to change in the upcoming days. In reality, Facebook is not Facebook anymore, it's Meta. This recent development was first announced by Mark Zuckerberg, CEO of Facebook at the company's Connect event on 28th October. However, the fact which many do not know is that the name change won't affect particular platforms like Facebook, WhatsApp, and Instagram, it will only affect the parent company owning them.
So, why was the name changed?
The reason behind this change comes from the fact of consistent criticism from lawmakers and regulators regarding its market power, policies, algorithms, and much more related to data security and privacy.
Significance and meaning of Meta
Mark Zuckerberg stated that the word ‘Meta’ has been derived from the Greek word, which means ‘beyond’. He stated that the word symbolizes that there is always more to create. He added, “Today we are seen as a social media company, but in our DNA, we are a company that builds technology to connect people, and the metaverse is the next frontier just like social networking was when we got started”. Therefore, if you have invested in a social media marketing service, don’t worry because everything will remain the same.
The CEO of the tech giant stated that the rebrand would show that the company is bigger than the social media platform that will stay named Facebook. The rebranding is also the conclusion of the rising discourse inside the company regarding "metaverse", which is merging the real-world and digital world by the usage of technologies like virtual reality (VR) and augmented reality (AR). According to the founder, "Metaverse" would create a new ecosystem that would connect and create as well as signify the “next chapter of social connection.”
Apps and brands are not changing
Mark Zuckerberg also stated that the name change won't have any effect on how Facebook and other apps work. “Our apps and their brands aren’t changing either. We’re still the company that designs technology around people,” he says. So, if you were wondering about any upcoming changes, know that there isn’t anything going to change recently due to this development. However, it should be noted that the company will be Metaverse from now on instead of being Facebook first. Hence, it will no longer be a social media company but a social media app that is a part of this company called ‘Meta’.
Are they changing the logo too?
Yeah! There is a new logo or rather a sign at its headquarters in Menlo Park, California replacing the earlier Thumbs Up logo of Facebook.
Zuckerberg on Facebook papers
According to the tech giant CEO, the Facebook paper is nothing but an unfair criticism. It was also known that the company that was earlier known as Facebook is planning to commence trading under the stock ticker ‘MVRS’ on 1st December.
Furthermore, Mark Zuckerberg's personal Facebook page has been changed into 'Founder and CEO at Meta'. Regarding his plans to stay CEO at Facebook, he stated that "Probably. I don't have a specific date how long I want to be doing this for. I guess what I could say is I'm very excited about the next chapter of what we're doing."