Facebook rebranding: All about ‘Meta’, the new platform

Social Media giant Facebook’s CEO Mark Zuckerberg announced on Thursday that the company will now be known as ‘Meta’, a move that is being linked to 38-year-old’s previous hints about establishing a “metaverse”, which has been described as a futuristic vision of a virtual reality-based platform.

Here is all you need to know about the rebranding of the social media platform:

-The corporate structure of the tech company will remain the same after the revamp, along with subsidiary platforms like WhatsApp, Instagram and Messenger.

– Starting December 1, 2021, the shares of the company will be traded under the new ticker symbol, which has been tagged as “MVRS”, nodding to the metaverse.

-The Facebook Oversight Board, a watchdog of the social media platform known to scrutinise every move of the social media company, said that it will retain its name even after the rebranding.

-CEO Mark Zuckerberg seems to be aiming for a complete revamp of the idea of Facebook. He said in a statement, “Today we are seen as a social media company. But in our DNA we are a company that builds technology to connect people”, according to reports from Associated Press.

-‘Meta’ is being directly liked to ‘Metaverse’, a concept that Zuckerberg hopes will reach at least a billion people by the end of this decade. 

-In a tweet after the big reveal on Thursday, Facebook’s handle wrote, “Zuckerberg says he expects the metaverse to reach a billion people within the next decade. It will be a place where people will be able to interact, work and create products and content in what he hopes will be a new ecosystem that creates millions of jobs for creators.”

The site, Meta.com, highlights multiple principles in the ‘Company Info’ section. The list includes “Giving people a voice”, “Building connection and community”, “Serve everyone”, “Keep people safe and protect privacy” and “Promote economic opportunity.”