Facebook, now known as Meta, will be joining a long list of organisations that have rebranded themselves after gaining momentum in their respective fields. The social media giant’s CEO Mark Zuckerberg announced the revamp on Thursday after weeks of speculation on the move.
Here are some other companies that have taken a similar route:
Google’s rebranding to Alphabet
About 6 years ago, the search engine received mounting complaints about lack of transparency about multiple projects undertaken by the company. To boost clarity and confidence in their large user groups, the company announced the creation of Alphabet, a parent company. It is currently headed by Sundar Pichai.
Verizon Oath to Verizon Media
Verizon had hoped for scaled-up success after officially taking over Yahoo, a key competitor in the search engine space. However, just a year later the value of the venture was written down and it was renamed Verizon Media. After some time, the branch was again renamed Yahoo after being sold off to a private equity firm for a value of $5 billion, according to reports from San Diego Union Tribune.
Netflix to Qwikster
Netflix’s case of rebranding was not as revolutionary as Facebook’s change to Meta. The streaming company in 2011 did not change the name of any company but split it in two based on their operations. Qwikster, an online DVD service, was kept apart from the streaming service creating a small-scaled rebranding.
Also Read: What is metaverse? Zuckerberg’s new vision for Facebook
According to reports from Associated Press, Facebook the app, where users post personal updates and register likes, is not changing its name. Nor are Instagram, WhatsApp and Messenger. The company’s corporate structure also will not change. However, on December 1, its stock will start trading under a new ticker symbol, “MVRS.”