CEO Mark Zuckerberg made it official on Thursday that Facebook is now changing to the name Meta to express its growing focus on the metaverse.
“From now on, we’re going to be the metaverse first, not Facebook first,” Zuckerberg said at the company’s annual Connect conference Thursday. “Our brand is so tightly linked to one product that it can’t possibly represent everything we’re doing today, let alone the future.”
Though its vision is expanding to virtual spaces where people interact via digital avatars, the company said it is not changing its corporate structure. It will trade under the ticker symbol MVRS.
Meta has its origin in the Greek language and means ‘beyond,’ which seems to voice out the app’s aim.
“For me, it symbolizes that there is always more to build, and there is always a next chapter to the story,” Zuckerberg added.
This app giant is not the first of its kind to change its name. Changing their nomenclature in 2015, Google too had created a new publicly traded parent company called Alphabet to house its disparate businesses.
The officials predict that the change of name will not sort out or tamper with the internal issues of the app and is just to achieve Zuckerberg’s vision that was first conceived in his Harvard dormitory room.